Provincial Inc. reported the following before-tax income statement items: Provincial has a 30% income tax rate. Provincial would report the following amount of income tax expense as a separately stated line item in the income statement:

Question

Provincial Inc. reported the following before-tax income statement items:  Provincial has a 30% income tax rate. Provincial would report the following amount of income tax expense as a separately stated line item in the income statement:

Quizplus · Accepted Answer

$600,000 × 30% = $180,000