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Lina Corporation reports the following information : Correction of overstatement of depreciation expense in prior years , before tax $ 500,000 Dividends declared 230,000 1/1 Retained earnings as reported 2,500,000 31/12 Retained earnings 4,000,0000 Tax rate 20 % Lina should report income before income tax expenses for 2019 of:
Lina Corporation reports the following information :
Correction of overstatement of depreciation expense in prior years , before tax $ 500,000
Dividends declared 230,000
1/1 Retained earnings as reported 2,500,000
31/12 Retained earnings 4,000,0000
Tax rate 20 %
Lina should report income before income tax expenses for 2019 of:
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