Answer:
The multiple choices are:
A. $99 million.
B. $100 million.
C. $110 million.
D. $130 million.
The current option is A, $99 million
Explanation:
The total income tax expense for the comprises of the increase in tax payable amount of $109 million plus the decrease in deferred tax assets minus the decrease in deferred tax liability
Increase in tax payable $109,000,000
decrease in deferred tax liability ($29,000,000)
decrease in deferred tax assets $19,000,000
total income tax expense $99,000,000
The amount tax expense to deducted in the income statement for the year is $99 million.
The decrease in deferred tax liability is like an income ,hence deducted , while the decrease in deferred tax assets is added as an additional tax expense.
