An entity reports net income before income taxes this year of $300,000. The enacted tax...
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An entity reports net income before income taxes this year of $300,000. The enacted tax rate is 30%. The entity has reported a $40,000 gain on an installment sale that will not be taxed for two years. The entity has also reported $50,000 in interest revenue from State of Maine bonds. On the entitys income statement, what is reported as current income tax expense?
A. $75,000. B. $78,000. C. $90,000. D. $63,000.
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