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Assume an income tax rate of 20%. What is the amount of income tax expense...

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Question

Accounting

Assume an income tax rate of 20%. What is the amount of income tax expense to be reported on the corporate income statement?

Retained earnings 100,000

Revenue 400,000

Operating expense 300,000

Interest Expense 10,000

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HV19: $6010% $216,000 $54,000 $72