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Tamarisk Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July 3 1 , 2 0 2

Tamarisk Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July 31,2024. The following information has been taken from the adjusted trial balance:All accounts have normal balances and total assets equal $784,800. Tamarisk has a 20% income tax rate.Accounts payable$24,480Interest expense$4,800Cash dividends-common57,600Notes payable96,000Common shares192,000Retained earnings (Aug.1,2023)337,920Cost of goods sold297,600Salaries expense134.400Dividends payable14,400Sales638,400Income tax expense28,800Supplies expense9,600Income tax payable2,880Unearned revenue11,520
All accounts have normal balance and total assets equal $784,800. Tamarisk has 20% income tax rate
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