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What is the amount of income tax expense

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Reference no: EM132515144

Question - Pina Colada Industries has the following account balances:

Retained earnings $74000

Revenue $355000

Operating Expenses $295000

Interest Expense $15000

Assume an income tax rate of 15%. What is the amount of income tax expense to be reported on the corporate income statement?

a. $9000

b. $6750

c. $11100

d. $53250

Reference no: EM132515144

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