The following information is available for Wenger Corporation for 2019 (its first year of operations). 1. 2. 3. 4. (a) Excess of tax depreciation over book depreciation, $40,000. This $40,000 difference will reverse equally over the years 2020-2023. Deferral, for book purposes, of $20,000 of rent received in advance. The rent will be recognized in 2020. Pretax financial income, $300,000. Tax rate for all years, 20%. Your answer is correct. Compute taxable income for 2019. Taxable income $ 280000

The following information is available for Wenger Corporation for 2019 (its first year of operations). 1. Excess of tax depreciation over book depreciation, $40,000. This $40,000 difference will reverse equally over the years 20202023 2. Deferral, for book purposes, of $20,000 of rent received in advance. The rent will be recognized in 2020 . 3. Pretax financial income, $300,000. 4. Tax rate for all years, 20%. (a) Your answer is correct. Compute taxable income for 2019