Could anyone solve this?
For the year ended December 31, 2011, Tyre Company reported pre-tax financial statement income of $750,000. Its taxable income was $650,000. The difference is due to accelerated depreciation for income tax purposes. Tyre’s income tax rate is 30%, and it made estimated tax payments of $90,000 during 2011.
What amount should Tyre report as the current portion of income tax expense for 2011?