In 2017, hd had reported a deferred tax asset of $126 million with no valuation allowance. at december 31, 2018, the account balances of hd services showed a deferred tax asset of $165 million before assessing the need for a valuation allowance and income taxes payable of $98 million. hd determined that it was more likely than not that 30% of the deferred tax asset ultimately would not be realized. hd made no estimated tax payments during 2018. what amount should hd report as income tax expense in its 2018 income statement? (round your calculations to the nearest whole million.)

108.5 million

Explanation: As we know that :-

Total income tax expense in 2018= reduction in deferred tax asset in 2018 + income tax payable in 2018

now computing the above values :

Reduction in deferred tax asset in 2018 = deferred tax asset balance-realizable deferred tax asset

                                                                   = 126million - (165million*70%)

                                                                   = 126million - 115.5 million

                                                                   = 10.5 million

Total income tax expense in 2018= 98 million + 10.5 million

                                                         = 108.5 million

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

arrowright

anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

arrowright

nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

arrowright