Show Instructions 2.09 pts Question 18 Tim Att 2 Mountain Corp, has pretax accounting income of $600,000 and taxable income of $555,000. The company's income tax rate is 40%. What is the balance of Income Tax Payable at the end of the fiscal year? $333,000 $360,000 $240,000 $222.000 Next Previous Show 2.09 pts Question 26 CCB Corporation purchases 40,000 shares of its own $20 par value common stock for $40 per share. What will be the effect on stockholders' equity? decrease $1,600,000 decrease $800.000 increase $1,600,000 increase $800,000