CALCULATOR PRINTER VERSTON CEN TE Multiple Choice Question 55 Sunland Co. at the end of 2017, its first year of operations, prepared a reconciliation between preta financial income and taxable income as follows: Pretax financial income Estimated litigation expense Installment sales Table income $1380000 3100000 (2280000) $2200000 The estimated litigation expense of $3100000 will be deductible in 2019 when it is expected to be paid. The gross profit from the installment sales will be realized in the amount of $1140000 in each of the next two years. The estimated Sabity for tigationis caed as noncurrent and the ment accounts receivable are classified as $1140000 current and $1140000 noncurrent. The income tax rate is 30% for all years. The income tax expenses $560000 $S70000 $414000 $1140000 LINK TO TENT LINK TO TOT By accessing this Question Assistance