How much is the income tax expense/(benefit) for the third quarter? (NOTE: If your answer is an expense, indicate a positive amount. If your answer is a benefit, indicate a negative amount)

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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How much is the income tax expense/(benefit) for the third quarter? (NOTE: If your answer is an expense, indicate a positive amount. If your answer is a benefit, indicate a negative amount)

1st quarter
300,000
30%
2nd quarter
(120,000)
27%
3rd quarter
225,000
4th quarter
(170,000)
Net income/(loss) for the quarter
Income tax rate
25%
20%
Transcribed Image Text:1st quarter 300,000 30% 2nd quarter (120,000) 27% 3rd quarter 225,000 4th quarter (170,000) Net income/(loss) for the quarter Income tax rate 25% 20%
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