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Business, 28.05.2021 23:50 ttangelique

g had reported a deferred tax asset of $130 million with no valuation allowance. At December 31, 2021, the account balances of Ross showed a deferred tax asset of $170 million before assessing the need for a valuation allowance and income taxes payable of $90 million. Ross determined that it was more likely than not that 30% of the deferred tax asset ultimately would not be realized. Ross made no estimated tax payments during 2021. What amount should Ross report as income tax expense in its 2021 income statement

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g had reported a deferred tax asset of $130 million with no valuation allowance. At December 31, 202...

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