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Sheridan Corporation began operations in 2023. There have been no permanent or temporary differences to account for since the inception of the business. The following
Sheridan Corporation began operations in 2023. There have been no permanent or temporary differences to account for since the inception of the business. The following data are available: In 2025, Sheridan had an operating loss of $2730000. What amount of income tax benefits should be reported on the 2025 income statement due to this loss assuming that it uses the carryback provision? $819000 $931500 $835500 $546000 In its 2025 income statement, Ivanhoe Corp. reported depreciation of $3900000 and interest revenue on municipal obligations of $722000. Ivanhoe reported depreciation of $5760000 on its 2025 income tax return. The difference in depreciation is the only temporary difference, and it will reverse equally over the next 3 years. Ivanhoe's enacted income tax rates are 25% for 2025,20% for 2026, and 15% for 2027 and 2028. What amount should be reported as a deferred income tax liability in Ivanhoe's December 31 . 2025 balance sheet? $310000 $645500 $516400 $476700 The following information for Wildhorse Enterprises is given below: There were no actuarial gains or losses at January 1,2025. The average remaining service life of employees is 10 years. The amortization of Other Comprehensive Loss for 2026 is $31620. $61800. $42870. $0
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