Sudowood inc reported pretax book income of 1 million

Reference no: EM13579017

Sudowood, Inc. reported pretax book income of $1 million. During the current year, net reserve for warranties increased by $25,000. Book depreciation exceeded tax depreciation by $100,000. Included in its GAAP income is a dividend from an unrelated corporation in the amount of $50,000. Assuming the tax rate is 34%, the Corporation's income tax payable for the current year would be:

387,600
370,600
340,000
328,100

Also, what would Sudowood show on its books as its total federal income tax expense for the current year?

387,600
370,600
340,000
328,100

Reference no: EM13579017

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