QUESTIONS 45 THROUGH 68 RELATE TO FINANCIAL STATEMENT ANALYSIS

52. - MOCK AND SAMPLE EXAMS CFA LEVEL I MOCK EXAM MORNING 2012
MOCK AND SAMPLE EXAMS CFA LEVEL I MOCK EXAM MORNING 2012
52. The following information is available about a company: (all figures in $ thousands) 2011 2010Deferred tax assets 200 160Deferred tax liabilities (450) (360)Net deferred tax liabilities (250) (200)Earnings before taxes 4,000 3,800Income taxes at the statutory rate 1,200 1,140Current income tax expense 1,000 900The company’s 2011 income tax expense (in thousands) is closest to: A. $1,000. B. $1,050. C. $1,250.