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Provincial Inc. reported the following before-tax income statement items: Operating income $700,000 Nonoperating losses (100,000) Provincial has a 25% income tax rate. Provincial would report
Provincial Inc. reported the following before-tax income statement items:
Operating income $700,000
Nonoperating losses (100,000)
Provincial has a 25% income tax rate.
Provincial would report the following amount of income tax expense as aseparately stated line item in the income statement:
a.$150,000
b.$160,000
c.$175,000
d.$200,000
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