Cranberry Chemical recorded a pretax restructuring charge of $1,916 million in 2017. By year-end (December 31, 2017), the company had paid only $216 million of cash related to the restructuring charges.
How did the restructuring charge of $1,916 million affect income before taxes? How did this charge affect deferred taxes on the balance sheet? Assume a tax rate of 35%.

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The Answer of Cranberry Chemical recorded a pretax restructuring charge of $1,916 million in 2017. By year-end (December 31, 2017), the company had paid only $216 million of cash related to the restructuring charges.
How did the restructuring charge of $1,916 million affect income before taxes? How did this charge affect deferred taxes on the balance sheet? Assume a tax rate of 35%.

Cranberry Chemical Recorded a Pretax Restructuring Charge of $1,916 Million