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Woodward Corporation reported pretax book income of $1,432,500. Included in the computation were favorable temporary...

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Accounting

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Woodward Corporation reported pretax book income of $1,432,500. Included in the computation were favorable temporary differences of $412,500, unfavorable temporary differences of $50,250, and favorable permanent differences of $146,000. Compute the company's current income tax expense or benefit. (Round your final answers to nearest whole dollar amount. Amounts to be deducted should be indicated by a minus sign.) Answer is not complete. Pretax book income Favorable temporary differences Unfavorable temporary differences Favorable permanent differences Taxable income Tax rate Current income tax expense $ 1,432,500 (412,500) 50,250 (146,000) 924,250

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