On its year 1 financial statements, seatax corporation, an accrual-method taxpayer, reported federal income tax expense of $570,000. on its year 1 tax return, it reported a tax liability of $650,000. during year 1, seatax made estimated tax payments of $700,000. what book–tax difference, if any, associated with its federal income tax expense should seatax have reported when computing its year 1 taxable income? is the difference favorable or unfavorable? is it temporary or permanent?

The new york stock exchange is an example of physical or individual

Adisadvantage of corporations is that shareholders have to pay on profits.

Engberg company installs lawn sod in home yards. the company’s most recent monthly contribution format income statement follows: amount percent of sales sales $ 80,000 100% variable expenses 32,000 40% contribution margin 48,000 60% fixed expenses 38,000 net operating income $ 10,000 required: 1. compute the company’s degree of operating leverage. (round your answer to 1 decimal place.) 2. using the degree of operating leverage, estimate the impact on net operating income of a 5% increase in sales. (do not round intermediate calculations.) 3. construct a new contribution format income statement for the company assuming a 5% increase in sales.