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14. The YR11 tax return for Taco Bell shows a Total Tax' of $100, Tax Credits Applied' of $5, and Tax Penalties Assessed' of $10,
14. The YR11 tax return for Taco Bell shows a Total Tax' of $100, Tax Credits Applied' of $5, and Tax Penalties Assessed' of $10, with a Tax Due' of $20. Deferred tax balances at the beginning and end of the year were as follows: Deferred Tax Asset Deferred Tax Liability Description Net Balance Balance at 12-31-YR11 Balance at 1-1-YR11 Change 0 dr. 10 dr. 10 cr. 40 cr. 20 cr. 20 cr. 40 cr. 10 cr. 30 cr. Based on this information the total income tax expense to be reported on the company's income statement for the year ended December 31, YR11 is: a. $ 50 b. $ 70 c. $100 d. $135 e. None of the above
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