2.99 See Answer

Question: Kyle, Inc., owns 75 percent of CRT


Kyle, Inc., owns 75 percent of CRT Company. During the current year, CRT reported net income of $425,000 but paid a total cash dividend of only $105,000. What deferred income tax liability must be recognized in the consolidated balance sheet? Assume the tax rate is 21 percent.
a. $23,520
b. $17,640
c. $34,440
d. $50,400

2.99

See Answer