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Question 4 . 1. The balance sheet for Colt Corp. provided the following summarized pretax data: Year 2015 Year 2016 Deferred tax liability $376,000 $248,000

Question 4 .

1. The balance sheet for Colt Corp. provided the following summarized pretax data:

Year 2015 Year 2016

Deferred tax liability $376,000 $248,000

Tax expense as reported on the 2016 Income Statement was $493,000.

Calculate the amount of income taxes payable for 2016?

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