Bare Fashions Corp. reported pre-tax accounting income of $300,000 for calendar 2017. To calculate the income tax liability, the following data were considered: What amount should Bare Fashion report as its current income tax liability on its December 31, 2017 statement of financial position?

Question

Bare Fashions Corp. reported pre-tax accounting income of $300,000 for calendar 2017. To calculate the income tax liability, the following data were considered:  What amount should Bare Fashion report as its current income tax liability on its December 31, 2017 statement of financial position?

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The Answer of Bare Fashions Corp. reported pre-tax accounting income of $300,000 for calendar 2017. To calculate the income tax liability, the following data were considered:  What amount should Bare Fashion report as its current income tax liability on its December 31, 2017 statement of financial position?