QUESTION 4 Chandler Corporation reported pre-tax book income of $2,100,000. Tax depreciation exceeded book depreciation by $500,000. During the year the Company capitalized $250,000 into ending inventory under $263A. Capitalized inventory costs of $150,000 in beginning inventory were deducted as part of cost of goods sold on the tax return. Assuming a tax rate of 21%, compute the company's taxes payable or refundable. QUESTION 4 Chandler Corporation reported pre-tax book income of $2,100,000. Tax depreciation exceeded book depreciation by $500,000. During the year the Company capitalized $250,000 into ending inventory under $263A. Capitalized inventory costs of $150,000 in beginning inventory were deducted as part of cost of goods sold on the tax return. Assuming a tax rate of 21%, compute the company's taxes payable or refundable. QUESTION 4 Chandler Corporation reported pre-tax book income of $2,100,000. Tax depreciation exceeded book depreciation by $500,000. During the year the Company capitalized $250,000 into ending inventory under $263A. Capitalized inventory costs of $150,000 in beginning inventory were deducted as part of cost of goods sold on the tax return. Assuming a tax rate of 21%, compute the company's taxes payable or refundable. QUESTION 4 Chandler Corporation reported pre-tax book income of $2,100,000. Tax depreciation exceeded book depreciation by $500,000. During the year the Company capitalized $250,000 into ending inventory under $263A. Capitalized inventory costs of $150,000 in beginning inventory were deducted as part of cost of goods sold on the tax return. Assuming a tax rate of 21%, compute the company's taxes payable or refundable