At December 31, 2015, Estania Corporation reports revenue of $5,750,000 and expenses of $3,920,000. The company has a tax rate of 27%. During the year, the company declared and paid dividends of $650,000.
Instructions
Prepare an income statement and record the adjustment to income taxes assuming no taxes have yet been accrued.

Question

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The Answer of At December 31, 2015, Estania Corporation reports revenue of $5,750,000 and expenses of $3,920,000. The company has a tax rate of 27%. During the year, the company declared and paid dividends of $650,000.
Instructions
Prepare an income statement and record the adjustment to income taxes assuming no taxes have yet been accrued.

At December 31, 2015, Estania Corporation Reports Revenue of $5,750,000