FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
ABC Inc., a calendar year retailer that sold ice skates, had the following amounts at December 31, 2020:
Net Sales
$938,500
COGS
475,300
Operating
123,700
Expenses
Other Income and (expense)
10,200
Other
Comprehensive Loss
(4,400)
Current taxes
20,800
payable
Net Income
221,900
What was ABC's provision for income taxes?
$107,800
$117,600
$127,800
$123,400
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