Cathy Company Reported the Following Summary Amounts for Its Second

question 105

Essay

Cathy Company reported the following summary amounts for its second year ended December 31, 20X1: $$\begin{array} { | l | r | } \hline \text { Revenues } & \$ 100,000 \\\hline \text { Expenses (excluding income tax) } & 80,000 \\\hline \text { Income taxes paid for 20X1 } & 10,000 \\\hline\end{array}$$ Income tax rate, 40% Give the entry to record income tax for 20X1.

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Definitions:

Sexual Activities

Behaviors involving sexual intercourse or other forms of sexual expression between individuals.

Teen Pregnancy

Pregnancy occurring in a young woman between the ages of 13 and 19.

Correlates

Correlates are factors or variables that are found to have a statistical relationship with each other, suggesting that when one changes, the other is likely to change in a predictable manner.

Commercialization

The process of bringing new products or services to market, focusing on maximizing profitability.