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Prepared the following reconciliation of income per books with income per tax return for the year ended December 31, 2011:
Prepared the following reconciliation of income per books with income per tax return for the year ended December 31, 2011: Book income before income taxes $1,200,000 Add temporary difference Construction contract revenue which will reverse in 2012 160,000 Deduct temporary difference Depreciation expense which will reverse in equal amounts in each of the next four years (640,000) Taxable income $720,000 Didde"s effective income tax rate is 34% for 2011. What amount should Didde report in its 2011 income statement as the current provision for income taxes?
