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Stone Company Reported Pre-Tax Book Income of $700,000 for Book

Question 62

Multiple Choice

Stone Company reported pre-tax book income of $700,000 for book purposes in 2015, the first year of operation. The tax depreciation exceeded its book depreciation by $90,000. The tax rate for 2015 and all future years was 30%.
-Income tax expense reported on the income statement for the year ending December 31,2015 would be


A) $100,000.
B) $120,000.
C) $183,000.
D) $210,000.

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