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Vesnalui [34]
2 years ago
14

In fiscal 2016, Microsoft Corp. reported a statutory tax rate of 35% and an effective tax rate of approximately 15%. The 2016 in

come statement reported income tax expense of $2,953 million. What did Microsoft report as income before income tax expense that year?
What did Microsoft report as income before income tax expense that year?

a. $14,826 million
b. $19,687 million
c. $27,054 million
d. $ 7,571 million
e. None of the above
Business
1 answer:
m_a_m_a [10]2 years ago
8 0

Answer: $19,687 million

Explanation:

From the question, we are informed that Microsoft Corp. reported a statutory tax rate of 35% and an effective tax rate of approximately 15% and that the 2016 income statement reported income tax expense of $2,953 million.

The amount reported by Microsoft as income before income tax expense that year will be calculated as:

= 2,953 million / 15%

= $19,686.67 million

= $19,687 million

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