Remaining Time 2 hours, 35 minutes, 33 seconds. Question Completion Status: Part Question 3 Accounting for Income Taxes Reed Lid is a manufacturer of surfboards which commenced operations on 1 July 2019. The Statement of Comprehensive Income and the Statement of Financial Position were compiled on 30 June 2020. The following information was avalable: Statement of Comprehensive income for the year ended 30 June 2020 $ $ Sales 430,000 Less 130,000 Cost of Goods Sold Administrative expense Warranty expense Depreciation machine 70,000 60,000 40.000 20.000 Insurance expense 320.000 Pront before income tax 110 000 Foliowing information was extracted from the Statement of Financial Position at 30 June 2020: 2019 Prepaid insurance 24,000 36,000 Machine 400,000 400.000 Less: Accumulated depreciation 40,000 80,000 Click Save and submit ose are submit. Click Save All Ads to save all are stv Den Remaining Time 2 hours, 35 minutes, 33 seconds. Question Completion Status: Part Question 3 Accounting for Income Taxes Reed Lid is a manufacturer of surfboards which commenced operations on 1 July 2019. The Statement of Comprehensive Income and the Statement of Financial Position were compiled on 30 June 2020. The following information was avalable: Statement of Comprehensive income for the year ended 30 June 2020 $ $ Sales 430,000 Less 130,000 Cost of Goods Sold Administrative expense Warranty expense Depreciation machine 70,000 60,000 40.000 20.000 Insurance expense 320.000 Pront before income tax 110 000 Foliowing information was extracted from the Statement of Financial Position at 30 June 2020: 2019 Prepaid insurance 24,000 36,000 Machine 400,000 400.000 Less: Accumulated depreciation 40,000 80,000 Click Save and submit ose are submit. Click Save All Ads to save all are stv Den