Problem - Assume that gerald company paid $94,000 for income tax at the year 2015. The company had the following account balances at the beginning and end of 2015.
account: beginning balance: ending balance:
deferred tax asset current $35,000 $20,000
deferred tax asset long term $44,000 $40,000
income tax payable $18,000 $15,000
What is the tax expense for 2015?