Southeast Airlines had pretax earnings of $65 million. Included in this amount is income from discontinued operations of $10 million. The company’s tax rate is 25%. What is the amount of income tax expense that Southeast would report in its income statement for continuing operations? (Enter your answer in millions rounded to 2 decimal place (i. e., i. e., 5,500,000 should be entered as 5.50). Amount to be deducted should be indicated with a minus sign.)

The amount of income tax expense that Southeast would report in its income statement for continuing operations is $ 18,750,000.

Explanation:

According to the details we the company had a Pretax earnings of $ 65 million  and include there is an income of discontinued operation of $ 10 million, hence Total taxable income= $ 65 million  +$ 10 million= $ 75 million.

The Income tax rate is 25%

Hence, the Income tax expense is Total taxable income × the Income tax rate

Income tax expense= $ 75 million× 25%

Income tax expense= $ 18,750,000

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hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi