A company commenced business on 1 July 2022. On 30 June 2023, an extract of the statement of financial position prepared for internal purposes, but excluding the effect of income tax, disclosed the following information:

Assets

Cash $20 000

Accounts payable $50 000

Inventories $60 000

Liabilities

Provision for annual leave $8 000

Plant $200 000

Accumulated depreciation $(20 000)

Additional information:The plant was acquired on 1 July 2022. Depreciation for accounting purposes was 10% (straight-line method), while 20% (straight-line) was used for tax purposes.The tax rate is 30%.

Using the following worksheet, determine the deferred tax asset and deferred tax liability. The deferred tax liability is: