For calendar 2017, Peanuts Corp. prepared the following reconciliation of accounting income to taxable income: Peanut's income tax rate is 25% for 2017. What amount should the corporation report in its 2017 income statement as current income tax expense?

Question

For calendar 2017, Peanuts Corp. prepared the following reconciliation of accounting income to taxable income:  Peanut's income tax rate is 25% for 2017. What amount should the corporation report in its 2017 income statement as current income tax expense?

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The Answer of For calendar 2017, Peanuts Corp. prepared the following reconciliation of accounting income to taxable income:  Peanut's income tax rate is 25% for 2017. What amount should the corporation report in its 2017 income statement as current income tax expense?

For Calendar 2017, Peanuts Corp