Irish Corporation reported pretax book income of $1,011,000. Included in the computation were favorable temporary differences of $303,300, unfavorable temporary differences of $101,100, and favorable permanent differences of $202,200. Compute Irish's book equivalent of taxable income. Use this number to compute the company's total income tax provision or benefit.

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The Answer of Irish Corporation reported pretax book income of $1,011,000. Included in the computation were favorable temporary differences of $303,300, unfavorable temporary differences of $101,100, and favorable permanent differences of $202,200. Compute Irish's book equivalent of taxable income. Use this number to compute the company's total income tax provision or benefit.

Irish Corporation Reported Pretax Book Income of $1,011,000