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Florabundi Co's trial balance at 31 December 20X8 included a credit balance of $3,400 onits tax liability account, having already settled the tax liability for the year ended31 December 20X7 during the year. Florabundi Co estimated that its income tax chargearising on its profits for the year ended 31 December 20X8 at $67,900.What amounts should be included in Florabundi Co's financial statements for the yearended 31 December 20X8 in respect of tax?Statement of profit or loss Statement of financial positionA $67,900 tax charge $67,900 tax payableB $64,500 tax charge $64,500 tax payableC $64,500 tax charge $67,900 tax payableD $71,300 tax charge $67,900 tax payable
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