35. Income taxes are to be computed at the rate of 25 percent of
net income before taxes. [IMPORTANT NOTE: Since the income taxes
are a percent of the net income you will want to prepare the Income
Statements through the Net Income Before Tax line. The worksheet
contains all of the accounts and their balances which you can then
transfer to the appropriate financial statement.]
Rev:
|
$ 32,900.00
Expenses:
|
$ 25,049.59
Net income before tax:
|
$ 7,850.41
What is the income tax expense?
|
|
|
dr.two
