2. Which of the following differences between financial accounting and tax accounting ordinarily creates a deferred tax asset?

a.) Depreciation early in the life of an asset.

b.) Subscriptions collected in advance.

c.) None of these answer choices are correct.

d.) Unrealized gain from recording investments at fair value.

Partial balance sheets and additional Information are listed below for Sowell Company 2020 Sovell Company Partial Balance Sheets as of December 31 2021 Assets Cash $50,000 Accounts receivable 79.000 Inventory 50,000 Liabilities Accounts payable 563,000 529,000 95,000 44,000 $72,000 Additional information for 2021: Net income was $98,000. Depreciation expense was $24,000. Required: Prepare the operating activities section of the statement of cash flows for 2021 using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Required: Prepare the operating activities section of the statement of cash flows for 2021 using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities: Adjustment for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities