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Problem 19-5 Waterway Inc. reported the following pretax income (loss) and related tax rates during the years 2013- 2019. Pretax Income (loss)Tax 2013 2014 2015
Problem 19-5 Waterway Inc. reported the following pretax income (loss) and related tax rates during the years 2013- 2019. Pretax Income (loss)Tax 2013 2014 2015 2016 2017 $39,000 22,700 49,900 74,800 (181,900) 68,600 96,500 Rate 30 % 30 % 30% 40 % 45 % 40 % 35% 2018 2019 Pretax financial income (loss) and taxable income (loss) were the same for all years since Waterway began business. The tax rates from 2016-2019 were enacted in 2016
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