Lantos Company had a 40 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement?
A) $54,000
B) $34,000
C) $36,000
D) $16,000

Question

Lantos Company had a 40 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement? 
A) $54,000 
B) $34,000 
C) $36,000 
D) $16,000

Quizplus · Accepted Answer

The Answer of Lantos Company had a 40 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement? 
A) $54,000 
B) $34,000 
C) $36,000 
D) $16,000

Lantos Company Had a 40 Percent Tax Rate