Question: Joplin Laminating Corporation reported income before income taxes during the first three quarters and management's estimates of the annual effective tax rate at the end

Joplin Laminating Corporation reported income before income taxes during the first three quarters and management's estimates of the annual effective tax rate at the end of each quarter as shown below:

Required:
Determine the income tax expense to be reported in the income statement in each of the three quarterlyreports.

Quarter First Second Third $50000 S 40000S 100000 Income before income taxes Estimated annual effective tax rate 34% 30% 36%

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