Gowrie, Inc. began operations on January 1, 2012. At the end of its first year of business, Gowrie reported $465,000 income before taxes on its income statement. At the end of 2012, Gowrie also had $45,000 of incurred expenses that were not yet tax deductible according to income tax regulations. Gowrie's tax rate is 35%.

Question

Gowrie, Inc. began operations on January 1, 2012. At the end of its first year of business, Gowrie reported $465,000 income before taxes on its income statement. At the end of 2012, Gowrie also had $45,000 of incurred expenses that were not yet tax deductible according to income tax regulations. Gowrie's tax rate is 35%.
Gowrie, Inc. began operations on January 1, 2012. At the end of its first year of business, Gowrie reported $465,000 income before taxes on its income statement. At the end of 2012, Gowrie also had $45,000 of incurred expenses that were not yet tax deductible according to income tax regulations. Gowrie's tax rate is 35%.

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The Answer of Gowrie, Inc. began operations on January 1, 2012. At the end of its first year of business, Gowrie reported $465,000 income before taxes on its income statement. At the end of 2012, Gowrie also had $45,000 of incurred expenses that were not yet tax deductible according to income tax regulations. Gowrie's tax rate is 35%.