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Pearsall Telecom had the following lines in its Income Taxes footnote: Deferred Tax Liabilities 12/31/2012 12/31/2011 Insurance Receivables $(60) $(63) Depreciation $(858) $(745) Other $(808)
Pearsall Telecom had the following lines in its Income Taxes footnote:
Deferred Tax Liabilities | 12/31/2012 | 12/31/2011 | ||
Insurance Receivables | $(60) | $(63) | ||
Depreciation | $(858) | $(745) | ||
Other | $(808) | $(883) | ||
Total Deferred Tax Liabilities | $(1,726) | $(1,691) |
Pearsall Telecom had the following lines in its Statement of Cash Flows:
2012 | 2011 | |||
Net Income | $4,511 | $4,357 | ||
Depreciation | $1,288 | $1,236 |
Pearsall Telecom is a US company with a 35% Federal Statutory Tax Rate. What was Pearsall Telecoms depreciation expense for tax purposes in fiscal year 2012?
$1,175
$1,288
$1,401
$965
$1,611
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