Ahhchu Inc., had the following balances reported in its financial books at the end of $2023.$ The company follows ASPE and uses the deferred tax method.

CCA in excess of accounting depreciation $ $1,600,000$

Corresponding DTL $$448,000$

Pension expenses in excess of pension contributions $$300,000$

Corresponding DTA $$84,000$

The company reported $$694,000$ of accounting income before tax for the year ended December $31,2024.$The following additional information related to $2024$ was also provided.

a$)$ Depreciation reported on the income statement was $$320,000$ meanwhile allowable CCA was $$230,000.$

b$)$ Non$-$taxable dividends received from Canadian companies amounted to $$18,000$ in $2023$ and $$26,000$ in $2024.$

c$)$ The company recorded pension expense of $$67,000$ and made cash contributions of $$87,000$ during $2024.$

d$)$ Entertainment costs related to the business for the year amounted to $$36,000.$ Only $25\%$ were deductible for tax purposes.

e$)$ During the year, the company recorded allowances for warranty costs amounting to $$42,000,$ related to extended warranties issued. These costs would not be incurred till $2026.$

f$)$ In $2024,$ the company accrued and recorded $$160,000$ for development costs. Only $85\%$ of these costs are tax deductible.

g$)$ The tax rate changed to $20\%$ for the years $2024$ and onwards.

Required:

$1.$ Determine taxable income. Make sure to show all work by preparing a statement showing the reconciliation.

$2.$ Determine tax payable for $2024$ and record the journal entry.

$3.$ Prepare the journal entry for deferred income tax effects for $2024.$

$4.$ Determine the ending $2024$ deferred income tax balance and show how this is to be reported on the balance sheet as at December $31,2024$ under IFRS.