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The trial balance for Nikita, Inc. for the year ended December 31, 2022 included the following accounts: Sales revenue = $340,000 Cost of goods sold
The trial balance for Nikita, Inc. for the year ended December 31, 2022 included the following accounts:
Sales revenue = $340,000
Cost of goods sold = $158,000
Selling and administrative expenses = $71,000
Interest income = $96,000
Other expenses = $45,000
Gain on derivatives = $13,650
Gain on investment securities = $2,027
- The gains on derivatives and investment securities are unrealized and classified as other comprehensive income
- Each component of other comprehensive income should be calculated net of tax
- The companys income tax rate on all items is 30%
Based on the information above, what is the companys income tax expense amount?
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