In 2011, Eric Corporation reported $90,000 net income before income taxes. The income tax rate for 2011 was 30 percent. Eric had an unused $60,000 net operating loss carryforward arising in 2010 when the tax rate was 35 percent. The income tax expense Eric would report for 2011 would be

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The Answer of In 2011, Eric Corporation reported $90,000 net income before income taxes. The income tax rate for 2011 was 30 percent. Eric had an unused $60,000 net operating loss carryforward arising in 2010 when the tax rate was 35 percent. The income tax expense Eric would report for 2011 would be

In 2011, Eric Corporation Reported $90,000 Net Income Before Income