(a) Compute Income Taxes Payable

The following facts relate to Cullumber Corporation. 1. Deferred tax liability, January 1,2025,$25,600. 2. Deferred tax asset, January 1, 2025, \$0. 3. Taxable income for 2025 , $108,300. 4. Pretax financial income for 2025,$214,000. 5. Cumulative temporary difference at December 31,2025 , giving rise to future taxable amounts, $273,600. 6. Cumulative temporary difference at December 31,2025 , giving rise to future deductible amounts, $39,900. 7. Tax rate for all years, 20%. 8. The company is expected to operate profitably in the future