Quinn Company reported a net deferred tax asset of ($9,000) in its December 31, 2008 balance sheet.

Question:

Quinn Company reported a net deferred tax asset of $$9,000$ in its December 31, 2008 balance sheet. For 2009 Quinn reported pre-tax financial statement income of $$300,000$. Temporary differences of $$100,000$ resulted in taxable income of $$200,000$ for 2009. At December 31, 2009, Quinn had cumulative taxable differences of $$70,000$. The income tax rate is 30%.
Required:
In its December 31, 2009 income statement, what should Quinn report as the deferred portion of income tax expense?

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