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Problem 4-232 [LO 4-2 All of the accounts of the Grass is Greener Company have been adjusted as of December 31, 2016, with the exception
Problem 4-232 [LO 4-2 All of the accounts of the Grass is Greener Company have been adjusted as of December 31, 2016, with the exception of income taxes incurred but not yet recorded. Those account balances appear below. A have normal balances. The estmaled income tax rate for the company is 40%. S 381.340 Accounts Receivable Interest Receivable Prepaid Insurance Prepaid Rert Supplies Equipmant Accumulated Depreciation 7.300 682.500 136,900 291,700 88,600 Equipment Accounts Payable Unearned Revenue Income Tax Payable Salaries and Wages Payable Noles Payable long lerm) Long-Term Debl Common Slock Retained Eamings Dividends 28.400 392,600 215,400 22.000 Service Revenue Interest Revenue Supplies Expense Repairs and Maintenance Expense Depreciation Expense Rent Expense Income Tax Expense 124,100 316,200 255,900 Required a. Calculate the income before income tax. b. Calculate the incorme tax expense ncome Tax Expense c. Calculate the net income et Income References Problem Problem 4-232 [LO
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