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please help solve this problem. thank you. Marigold Inc. reported the following pretax income (loss) and related tax rates during the years 2019-2022 Tax Rate
please help solve this problem. thank you.
Marigold Inc. reported the following pretax income (loss) and related tax rates during the years 2019-2022 Tax Rate 2019 Pretax Income (loss) $42,900 (184,000) 40 % 2020 40 % 2021 234,000 20 % 2022 82,600 20 % Pretax financial income (loss) and taxable income (loss) were the same for all years since Marigold began business. The tax rates from 2019-2022 were enacted in 2019, Prepare the portion of the income statement, starting with "Operating loss before income taxes," for 2020. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Marigold Inc. Income Statement (Partial) For the Year Ended December 31, 2020 Operating Loss before Income Taxes $ 184000 Income Tax Benent 36800 i. Net Income /(Loss) $ income statement, starting with "Income before income taxes," for 2021. (Enter negative amo using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Marigold Inc. Income Statement (Partial) For the Year Ended December 31, 2021 4 Income before Income Taxes 234000 Income Tax Expense Current -36800 Deferred 197200 160400 Net Income /(Loss) 73600 Step by Step Solution
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