Homework Sourse083 points excluding income taxes income tax Cash balance by
0.83 points (excluding income taxes) income tax Cash balance, (by 28,150 Required: Complete the following two statements 16
Solution
PAINTER CORPORATION
Income Statement
For the Month of January
| Total revenues | $294,000 |
| Less: Total expenses (excluding income tax) | $185,000 |
| Pretax income | $109,000 |
| Less: Income tax expense | $33,400 |
| Net income | $75,600 |
