To calculate the corporate income tax for Quarter 1, we start with the pre-tax income provided in the income statement and apply the corporate income tax rate to it.
Here are the detailed steps:
1. From the income statement, identify the pre-tax income for Quarter 1 (Q1). According to the table, the pre-tax income for Q1 is \(90 \times 1000 = \$90,000\).
2. The corporate income tax rate provided is \(21\%\).
3. To find the corporate income tax for Q1, multiply the pre-tax income by the tax rate:
[tex]\[
\text{Corporate Income Tax for Q1} = \text{Pre-tax Income for Q1} \times \text{Tax Rate}
\][/tex]
Substituting the values, we get:
[tex]\[
\text{Corporate Income Tax for Q1} = 90,000 \times 0.21
\][/tex]
4. Perform the multiplication:
[tex]\[
90,000 \times 0.21 = 18,900
\][/tex]
Therefore, the corporate income tax for Quarter 1 is [tex]\(\$18,900\)[/tex].
