In: Accounting
Use the following information:
Gross profit | ₤3,900,000 |
Loss on sale of investments | 10,000 |
Interest expense | 7,500 |
Gain on sale of discontinued operations | 30,000 |
Income tax rate | 20% |
Compute the total amount of income tax expense experienced by the
company.
₤782,500 |
₤800,000 |
₤1,005,000 |
₤765,000 |
Option A] i.e 782,500 is correct Answer,
Please comment for any explanation,
Thanks,