INTER Enterprises had the following pretax income (loss) ove…
INTER Enterprises had the following pretax income (loss) over its first four years of operations: 2022 $ 550,700 2023 1,000,000 2024 (3,025,000) 2025 8,790,000 There were no temporary or permanent differences in any year and the tax rate was 25%. No valuation account was deemed necessary for the deferred tax asset as of December 31, 2024. INTER uses the carryforward method when calculating its taxes. What amount should INTER report as income tax payable in 2025?
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