Prepare the income tax section of the 2021 income statement beginning with the line "Income (loss) before income taxes.". negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Metlock Income Statement (Partial) For the Year Ended December 31, 2021 Income /(Loss) before Income Taxes $

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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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).)
Metlock
Income Statement (Partial)
For the Year Ended December 31, 2021
Income /(Loss) before Income Taxes
<
<
LA
$
LA
Transcribed Image Text: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).) Metlock Income Statement (Partial) For the Year Ended December 31, 2021 Income /(Loss) before Income Taxes < < LA $ LA
Metlock reported the following pretax financial income (loss) for the years 2020-2022.
2020 $117,600
2021 (139,000)
2022
176,400
Pretax financial income (loss) and taxable income (loss) were the same for all years involved. The enacted tax rate was 20% for 2020-
2022.
Transcribed Image Text:Metlock reported the following pretax financial income (loss) for the years 2020-2022. 2020 $117,600 2021 (139,000) 2022 176,400 Pretax financial income (loss) and taxable income (loss) were the same for all years involved. The enacted tax rate was 20% for 2020- 2022.
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