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2022 Question 30 3.4 points Save Ang Hansford Inc. began operations in January 2021. For some machinery sales, Hansford recognizes income in the period of
2022 Question 30 3.4 points Save Ang Hansford Inc. began operations in January 2021. For some machinery sales, Hansford recognizes income in the period of sale for financial reporting purposes. However, for income tax purposes. Hansford recognizes income when it collects cash from the buyer's installment payments. In 2021. Hansford had $676 million in sales of this type. Scheduled collections for these sales are as follows: 2021 $ 83 million 137million 2023 129million 2024 162 million 2025 165million 5 676millon Assume that Hansford has a 256 income tax rate and that there were no other differences in income for financial statement and tax purposes. gnoring operating expenses and additional sales in 2022, what deferred tax liability would Hansford report in its year-end 2022 balance sheet? (Round your answer to the nearest whole million.) $101 million 556 million $123.5 million 5114 million Clicca
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