# At the end of the year, Falabella Co. has pretax financialincome of \$550,000. Included in the \$550,000 is \$70,000interest income on municipal bonds, \$25,000 fine fordumping hazardous waste, and depreciation of \$60,000.Depreciation for tax purposes is \$45,000. Compute incometaxes payable, assuming the tax rate is 30% for all periods.

Question
Asked Jan 10, 2020
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At the end of the year, Falabella Co. has pretax financial
income of \$550,000. Included in the \$550,000 is \$70,000
interest income on municipal bonds, \$25,000 fine for
dumping hazardous waste, and depreciation of \$60,000.
Depreciation for tax purposes is \$45,000. Compute income
taxes payable, assuming the tax rate is 30% for all periods.

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Step 1

Calculate taxabl...

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