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How much is income tax payable for the company

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Reference no: EM132892536

Question - A company reported the following results for its first three years of operation and the following tax rates:

2020 income (before income taxes) $ 250,000 33%

2021 loss (before income taxes) (3,360,000) 30%

2022 income (before income taxes) 6,200,000 30%

There were no permanent or temporary differences during these three years. Assuming that the company elects to use the carry forward provision. How much is Income Tax Payable (i.e., cash payment for taxes) for the company for 2022?

Reference no: EM132892536

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