Arreaga Corp had a 20 percent tax rate. Given the following pre-tax amounts, what would...
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Arreaga Corp had a 20 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement? Sales revenue $1,000,000 Cost of goods sold $600,000 Salaries and wages expense $80,000 Depreciation expense $110,000 Dividend revenue $90,000 Utilities expense $10,000 Discontinued operations loss (net of taxes) $100,000 Interest expense $20,000 Select one: O a. $34,000 O b. $54,000 O c. $16,000 O d. $36,000
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