Zinc, Inc., reports an effective tax rate in its income tax footnote of 14%. The only reconciling item with regard to the hypothetical tax at 35% is a valuation allowance reversal of negative 21%. Which of the following statements comparing Zinc, Inc.'s effective tax rate with its competitors, all of whom have an effective tax rate betwee 32% and 36%, is true?

Lantos Company had a 20 percent tax rate. Given the following pretax amounts, what would be the income tax expense reported on the face of the income statement? Sales revenue Cost of goods sold Salaries and wages expense Depreciation expense Dividend revenue Utilities expense Discontinued operations loss Interest expense $1,000,000 600,000 80,000 110,000 90,000 10,000 100,000 20,000 Example of Answer: 4000 (No comma, space, decimal point, or $ sign)

(Corporate income tax) G. R. Edwin Inc. had sales of $5.99 million during the past year. The cost of goods sold amounted to $2.9 million. Operating expenses totaled $2.56 million, and interest expense was $21,000. Use the corporate tax rates shown in the popup window, to determine the firm's tax liability. What are the firm's average and marginal tax rates? The firm's tax liability for the year is $. (Round to the nearest dollar.) The firm's average tax rate is %. (Round to two decimal places.) The firm's marginal tax rate is %. (Round to the nearest integer.) 2 W S X mmand 3 20 E D $ 4 C DOO DDD F4 R F % 5 V FS T G 6 B MacBook Air F6 Y & 7 Data table H Over $18,333,333 35% (Click on the icon in order to copy its contents into a spreadsheet) 44 F7 U N Taxable Income $0-$50,000 $50,001-$75,000 $75,001-$100,000 $100,001-$335,000 39% $335.001-$10.000.000 34% $10,000,001-$15,000,000 35% $15,000,001-$18,333,333 38% * 8 J DII 76 - Print 1 M 9 K DE Marginal Tax Rate 15% 25% MOSISO 19 O Done 1…

Assume that The Bell Company operates in an industry for which NOL carryback is allowed. The Bell Company had the following operating results:   Year Income (loss) Tax rate Income tax   2018   40,000       25 %     10,000   2019   40,000       25 %     10,000   2020   50,000       30 %     15,000   2021   (130,000 )     30 %     0                                What is the Deferred tax Asset in 2021?