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The following information is available for Oriole Company after its first year of operations: Income before income taxes $160000 Federal income tax payable $59000 Deferred
The following information is available for Oriole Company after its first year of operations: Income before income taxes $160000 Federal income tax payable $59000 Deferred income tax _12200 Income tax expense 56800 Net income $103200 Oriole estimates its annual warranty expense as a percentage of sales. The amount charged to warranty expense on its books was $86000. Assuming a 20% income tax rate, what amount was actually paid this year for warranty claims O $75000 O $86000 O $56800 O $97000
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