For its first year of operations Tringali Corporation's reconciliation of pretax accounting income to taxable income...

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For its first year of operations Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: Pretax accounting income $290,000 Permanent difference (15,300) 274,700 Temporary difference-depreciation (19.900) Taxable income $254,800 Tringali's tax rate is 32%. Assume that no estimated taxes have been paid. What should Tringali report as income tax payable for its first year of operations? a) $87,904. b) $92,800. c) $81,536. d) $78,028. For its first year of operations Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: Pretax accounting income $290,000 Permanent difference (15,300) 274,700 Temporary difference-depreciation (19.900) Taxable income $254,800 Tringali's tax rate is 32%. Assume that no estimated taxes have been paid. What should Tringali report as income tax payable for its first year of operations? a) $87,904. b) $92,800. c) $81,536. d) $78,028.

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