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The following facts relate to Bramble Corporation. 1. Deferred tax liability, January 1, 2017, $60,600. 2. Deferred tax asset, January 1, 2017, $20,200. 3. Taxable
The following facts relate to Bramble Corporation. 1. Deferred tax liability, January 1, 2017, $60,600. 2. Deferred tax asset, January 1, 2017, $20,200. 3. Taxable income for 2017, $106,050. 4. Cumulative temporary difference at December 31, 2017, giving rise to future taxable amounts, $232,300. 5. Cumulative temporary difference at December 31, 2017, giving rise to future deductible amounts, $95,950. 6. Tax rate for all years, 40%. No permanent differences exist. 7. The company is expected to operate profitably in the future. (a) Compute the amount of pretax financial income for 2017. Pretax financial income e
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