Question - Oriole Company made the following journal entry in late 2018 for rent on property it leases to Danford Corporation.

Cash 153000

Unearned Rent Revenue 153000

The payment represents rent for the years 2019 and 2020, the period covered by the lease. Oriole Company is a cash basis taxpayer. Oriole has income tax payable of $233000 at the end of 2018, and its tax rate is 35%.

Assuming the income taxes payable at the end of 2019 is $258000, what amount of income tax expense would Oriole Company record for 2019?

$206225

$284775

$231225

$311550