Shown below are the operating results of Bulalacao Company, a large corporation, since its start of operations: 2016 2017 2018 2019 2020 2021 Gross income 4,000,000 4,500,000 5,500,000 6,000,000 6,500,000 7,000,000 Deductions 5,000,000 5,200,000 5,000,000 5,800,000 6,100,000 6,200,000

Shown below are the operating results of Bulalacao Company, a large corporation, since its start of operations: 2016 2017 2018 2019 2020 2021 Gross income 4,000,000 4,500,000 5,500,000 6,000,000 6,500,000 7,000,000 Deductions 5,000,000 5,200,000 5,000,000 5,800,000 6,100,000 6,200,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Problem 5
Shown below are the operating results of Bulalacao Company, a large corporation, since its start of operations:
2016
2017
2018
2019
2020
2021
Gross income
4,000,000
4,500,000
5,500,000
6,000,000
6,500,000
7,000,000
Deductions
5,000,000
5,200,000
5,000,000
5,800,000
6,100,000
6,200,000
What is the income tax respectively in 2019 and 2020?
In the immediately preceding problem, what is the income tax due in 2021?

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