Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences: 

The enacted tax rate is 25%. 

Required: 

For each situation, determine the:

a. Income tax payable currently. 

b. Deferred tax asset—balance. 

c. Deferred tax asset—change. 

d. Deferred tax liability—balance. 

e. Deferred tax liability—change. 

f. Income tax expense.

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($ in thousands) Situation 1 2 3 Taxable income $84 $216 $196 $260 Future deductible amounts 16 20 20 Future taxable amounts 16 16 28 Balance(s) at beginning of the year: Deferred tax asset 4 Deferred tax liability 2 00 2.