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Amazon reported tax expense on its 2012 income statement of $428 million. What did Amazon report as income before income taxes on its 2012 income statement? (Enter your answer in millions rounded to nearest whole number.) Income before income taxes S 544 million

Amazon reported tax expense on its 2012 income statement of $428 million. What did Amazon report as income before income taxes on its 2012 income statement? (Enter your answer in millions rounded to nearest whole number.) Income before income taxes S 544 million

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Below is information from Amazon's 2012 income tax footnote: RECONCILIATION OF AMAZON'S STATUTORY AND EFFECTIVE TAX RATES YEAR ENDED DECEMBER 31 2012 Federal statutory tax rate State taxes, net of federal impact Impact of foreign tax differential Tax credits Nondeductible stock-based compensation Other Effective income tax rate Income before income taxes S 35.0% 0.2 31.5 (4.4) 11.1 5.2 21.8% 544 million 2011 Amazon reported tax expense on its 2012 income statement of $428 million. What did Amazon report as income before income taxes on its 2012 income statement? (Enter your answer in millions rounded to nearest whole number.) 35.0% 1.5 (8.4) (3.2) 4.1 2.2 27.4% 2010 35.0% 1.5 (12.7) (1.1) 1.6 (0.8) 27.9%
Transcribed Image Text:Below is information from Amazon's 2012 income tax footnote: RECONCILIATION OF AMAZON'S STATUTORY AND EFFECTIVE TAX RATES YEAR ENDED DECEMBER 31 2012 Federal statutory tax rate State taxes, net of federal impact Impact of foreign tax differential Tax credits Nondeductible stock-based compensation Other Effective income tax rate Income before income taxes S 35.0% 0.2 31.5 (4.4) 11.1 5.2 21.8% 544 million 2011 Amazon reported tax expense on its 2012 income statement of $428 million. What did Amazon report as income before income taxes on its 2012 income statement? (Enter your answer in millions rounded to nearest whole number.) 35.0% 1.5 (8.4) (3.2) 4.1 2.2 27.4% 2010 35.0% 1.5 (12.7) (1.1) 1.6 (0.8) 27.9%
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