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Nalad Corp. provided the following data related to accounting and taxable income: There are no existing temporary differences other than those reflected in these data.
Nalad Corp. provided the following data related to accounting and taxable income: There are no existing temporary differences other than those reflected in these data. There are no permanent differences. Required: 1-a. How much tax expense would be reported in each year if the taxes payable method was used? 1-b. What is the implied tax rate? (Round your answers to 1 decimal place.) 2-a. How much tax expense would be reported using comprehensive tax allocation (liability method). 2-b. How much deferred income tax would be reported using comprehensive tax allocation (liability method). 2-a. How much tax expense would be reported using comprehensive tax allocation (liability method). 2-b. How much deferred income tax would be reported using comprehensive tax allocation (liability method). 2-c. Why is the two year total tax expense is the same under both tax payable method and liability method? (Select all that apply.)
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