What will be the impact to the 2023 financial statements

Reference no: EM133659739

Question: Sassy Inc. reported a taxable and accounting loss of $130,000 for 2023. Its pre-tax accounting income for the preceding two years was as follows: 2021 $60,000 2022 $80,000 Assuming that management wants to use the losses to carryforward and offset against future income, what will be the impact to the 2023 financial statements if future tax rates are increasing to 28%?

Reference no: EM133659739

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