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The following facts relate to Cullumber Corporation. 1. Deferred tax liability, January 1, 2025, $30,900. 2. Deferred tax asset, January 1, 2025, $10,300. 3. Taxable
The following facts relate to Cullumber Corporation. 1. Deferred tax liability, January 1, 2025, $30,900. 2. Deferred tax asset, January 1, 2025, $10,300. 3. Taxable income for 2025, $108,150. 4. 5. Cumulative temporary difference at December 31, 2025, giving rise to future taxable amounts, $236,900. Cumulative temporary difference at December 31, 2025, giving rise to future deductible amounts, $97,850. 6. Tax rate for all years, 20%. No permanent differences exist. 7. The company is expected to operate profitably in the future. (a) Compute the amount of pretax financial income for 2025. Pretax financial income $ eTextbook and Media List of Accounts Save for Later Attempts: 0 of 4 used Submit
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