Solution-What would be the income tax expense reported on

What would be the income tax expense reported on the face

Reference no: EM131792912

Question - Lantos Company had a 40 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement?

Sales revenue $ 300,000

Cost of goods sold 180,000

Salaries and wages expense 24,000

Depreciation expense 33,000

Dividend revenue 27,000

Utilities expense 3,000

Extraordinary loss 30,000

Interest expense 6,000

A) $9,600

B) $32,400

C) $20,400

D) $21,600

Reference no: EM131792912

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What would be the income tax expense reported on the face

Reference no: EM131792912

Reference no: EM131792912

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