A company is scheduling its temporary differences for the purpose of computing deferred taxes. The company compared tax basis assets and liabilities with book basis assets and liabilities and accumulated the following temporary differences.

Required 1. Schedule all temporary differences over each of the four future years using the preceding information.

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Book Tax Temporary basis basis difference Depreciable assets $780,0 $288, $492,000 00 000 Estimated 420,00 420,000 litigation Rent received 450,00 450,000 in advance 0 The company is involved in long-term contract construction. The percentage of completion is used for book purposes and the 70/30 method is used for tax purposes.