2. Sohar Company had a 40 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement ?.. . ....... Sales $ 100,000 Depreciation expensel1,000 Cost of goods sold60,000 Dividend revenue9,000 Salary expense8,000 Utilities expense1,000 Extraordinary loss10,000 Interest expense2,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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2. Sohar Company had a 40 percent tax rate. Given the
following pre-tax amounts, what would be the income
tax expense reported on the face of the income statement
?.. .
........
..................•...
.....•.....•......
Sales $ 100,000
Depreciation expensel1,000
Cost of goods sold60,000 Dividend revenue9,000
Salary expense8,000
Utilities expense1,000
Extraordinary loss10,000 Interest expense2,000
Transcribed Image Text:2. Sohar Company had a 40 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement ?.. . ........ ..................•... .....•.....•...... Sales $ 100,000 Depreciation expensel1,000 Cost of goods sold60,000 Dividend revenue9,000 Salary expense8,000 Utilities expense1,000 Extraordinary loss10,000 Interest expense2,000
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