(Answered) Problem - wildhorse corp prepared the following

Accounting

Problem - Wildhorse Corp. prepared the following reconciliation of income per books with income per tax return for the year ended December 31, 2018:

Book income before income taxes $2670000

Add temporary difference Construction contract revenue which will reverse in 2019 237000

Deduct temporary difference Depreciation expense which will reverse in equal amounts in each of the next four years (952800)

Taxable income $1954200

Wildhorse's effective income tax rate is 30% for 2018. What amount should Wildhorse report in its 2018 income statement as the current provision for income taxes?

$71100

$586260

$872100

$801000

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