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Company A started business on January 1,20X1, and bought the following piece of...

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Accounting

Company A started business on January 1,20X1, and bought the following piece of equipment.
Cost of asset $150,000
Useful life 3
Tax rate 21%
20X1 estimated tax payment 1,800
Depreciation for book and tax purposes is as follows:
Book Tax
20X140,000100,000
20X240,00020,000
20X340,0000
20X1 income statement information:
Sales 638,000
Expenses (does not include depreciation expense and tax expense)510,000
What is net income for 20X1?

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