In its 2018 Annual Report to Shareholders, Kinney Inc. reported the following Consolidated Statement of Cash Flows:
For the years ended December 31,

-Assuming the decrease in accrued expenses during fiscal year 2018 included a $20,000 reduction due to taxes, compute the income tax expense for Kinney in that year.

Question

In its 2018 Annual Report to Shareholders, Kinney Inc. reported the following Consolidated Statement of Cash Flows:
For the years ended December 31,

-Assuming the decrease in accrued expenses during fiscal year 2018 included a $20,000 reduction due to taxes, compute the income tax expense for Kinney in that year.

Quizplus · Accepted Answer

The Answer of In its 2018 Annual Report to Shareholders, Kinney Inc. reported the following Consolidated Statement of Cash Flows:
For the years ended December 31,

-Assuming the decrease in accrued expenses during fiscal year 2018 included a $20,000 reduction due to taxes, compute the income tax expense for Kinney in that year.

In Its 2018 Annual Report to Shareholders, Kinney Inc