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Crane reported the following pretax financial income (loss) for the years 2020-2022. 2020 2021 $96,000 (113,000) 144,000 2022 Pretax financial income (loss) and taxable income
Crane reported the following pretax financial income (loss) for the years 2020-2022. 2020 2021 $96,000 (113,000) 144,000 2022 Pretax financial income (loss) and taxable income (loss) were the same for all years involved. The enacted tax rate was 20% for 2020-2022. lal (b) Your answer is partially correct. Prepare the income tax section of the 2021 income statement beginning with the line Income (loss) before income taxes.". (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Crane Income Statement (Partial) For the Year Ended December 31, 2021 Income / (Loss) before Income Taxes - 113000 Income Tax Benefit Deferred 22600 Net Income / (Loss) 90400 Save for Later Attempts: 1 of 3 used Submit
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