The Pilot Point Company Began Operations in 2010 And, for That

The Pilot Point Company began operations in 2010 and, for that calendar year, reported an operating loss of $230, 000.Due to sufficient verifiable positive evidence, no valuation allowance was established to reduce the deferred tax asset as of December 31, 2010.During 2011, Pilot Point reported pretax accounting income of $350, 000.Assuming an income tax rate of 30%, what should Pilot Point record in 2011 as income tax payable at the end of 2011?

A) $ 0
B) $ 36, 000
C) $ 69, 000
D) $105, 000