31) Jersey, Inc. had pre-tax accounting income of $2,500,000 and a tax rate of 20% in 2021, its first year of operations. During 2021 the company had the following transactions: Received rent from Maine, Co. for 2022 $ 85,000 Depreciation for tax purposes in excess of book depreciation $60,000 Compute the deferred tax asset balance at December 31, 2021. 32) Pluto Corp.'s 2021 income statement showed pretax accounting income of $2,500,000. To compute the federal income tax liability, the following 2021 data are provided: Income from exempt municipal bonds $ 200,000 Depreciation deducted for tax purposes in excess of depreciation deducted for financial statement purposes 400,000 Enacted corporate income tax rate 30% Compute the current tax payable for the year. 33) Income tax payable is computed by multiplying taxable income by the current tax rate. (answer True or False)