A Company's Income tax return reported a $75,000 tax liability. During 2014, the deferred income...
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Accounting
A Company's Income tax return reported a $75,000 tax liability. During 2014, the deferred income tax liability account increased $9,000. Which of the following statement is correct:
1. Income Tax Expense on the 2014 income statement was $84,000.
2. Income Tax Expense on the 2014 income statement was $66,000.
3. Income tax expense on the 2014 income statement was $9,000.
4. Income tax expense on the 2014 income statement was $75,000.
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