Moore Company reported the following operating results during its first three years of operations:

2016 Pretax operating loss                $(40,000)

2017 Pretax operating loss                $(200,000)

2018 Pretax operating income          $300,000

No permanent or temporary differences occurred during these fiscal periods. Assuming an income tax rate of 35%, what is the amount of current income tax liability that Moore should report as of December 31, 2018?

Answer rating: 100% (QA)

Current Income tax Liability ITP of Moore Company For December 31 2018 ... View the full answer