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Roar Ice cream Company prepared the following reconciliation for 2021: Pretax financial income for 2021...

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Accounting

Roar Ice cream Company prepared the following reconciliation for 2021:

Pretax financial income for 2021 752,000

Originating temporary difference 21,000

Permanent difference (36,000)

Taxable income= $737,000

The temporary difference will reverse evenly over the next two years: 2022 and 2023. The enacted income tax rates are 34% for 2021 and 2022, and 29% for 2023.

Compute the companys income tax expense for 2021. Please show work

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