Subject:ACCT335 Please solve faster i just want the correct option with out detailed answer please...
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Accounting
Subject:ACCT335 Please solve faster i just want the correct option with out detailed answer please solve faster thanks Linda Amanadel
Lopez Corporation has a tax rate of 20 percent and income before non-operating items of $1,392,000. It also has the following items (gross amounts). Unusual loss $222,000 Loss from discontinued operations (net of taxes) $606,000 Gain on disposal of equipment $48,000 Change in accounting principle increasing prior year's income $318,000 What is the amount of income tax expense Lopez Corporation would report on its income statement? Select one: O a. $278,400 O b. $297,600 O c. $186,000 d. $243,600
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