ACCT Co. had a 20 percent tax rate. Given the following pre-tax amounts, what would be...

 

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ACCT Co. had a 20 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement? Sales revenue $ 1,000,000 Cost of goods sold 600,000 Selling expense 100,000 Administrative expense 10,000 Interest expense 20,000 Discontinued operations loss 100,000 ACCT Co. had a 20 percent tax rate. Given the following pre-tax amounts, what would be the income tax expense reported on the face of the income statement? Sales revenue $ 1,000,000 Cost of goods sold 600,000 Selling expense 100,000 Administrative expense 10,000 Interest expense 20,000 Discontinued operations loss 100,000