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Question - Dog began operations in 1912. Dog has no book tax differences. Recent net income before taxes and income tax rates were as follows:
Year Income (loss) Tax Rate
2016 32,000 25%
2017 34,000 25%
2018 (216,000) 25%
2019 58,000 25%
2020 96,000 20%
2021 15%
Required - Prepare the journal entry for income taxes.
Financial Statement Analysis and Preparation
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Computation of Free Cash Flow
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