Krasco Inc.'s auditors prepared the following reconciliation between book and taxable income. The corporation has a 34% tax rate.
$$\begin{array} { l r }
\text { Book income before tax } & \$ 8,288,900 \
\text { Net permarnent differences } & ( 35,770 \} \
\text { Net temporary differences } & 112,400 \
\text { Taxable incorne } & \$ 8,365,530
\end{array}$$

Question

Krasco Inc.'s auditors prepared the following reconciliation between book and taxable income. The corporation has a 34% tax rate.
 $$\begin{array} { l r } 
\text { Book income before tax } & \$ 8,288,900 \
\text { Net permarnent differences } & ( 35,770 \} \
\text { Net temporary differences } & 112,400 \
\text { Taxable incorne } & \$ 8,365,530
\end{array}$$

Quizplus · Accepted Answer

The Answer of Krasco Inc.'s auditors prepared the following reconciliation between book and taxable income. The corporation has a 34% tax rate.
 $$\begin{array} { l r } 
\text { Book income before tax } & \$ 8,288,900 \
\text { Net permarnent differences } & ( 35,770 \} \
\text { Net temporary differences } & 112,400 \
\text { Taxable incorne } & \$ 8,365,530
\end{array}$$