Analysis of the assets and liabilties of Marie Corp on December 31, 2011 disclosed assets with a tax basis of $1,000,000 and a book basis of $1,300,000. There was no difference in the liability basis. The diffeence in asset basis arose from temporary differences that would reverse in the following years 2012 $80,000 2013 $70,000 2014 $72,000 2015 $40,000 2016 $38,000 The enacted tax rates are 30 percent for the years 2011-2014 and 35 percent for 2015-2018. The total deferred tax liability on decmber 31, 2011 should be A) 105,000 B) 93,900 C)90,000 D)69,000 Inventive corp's Income Statement for the ye Dec 31 , 2011 shows pretax income of $300,000. The following items are treated differently on the tax return and in the accounting records: Tax return Accounting record Warranty expense $170,000 $185,500 Depreciation expense $150,000 $100,000 Premiums on officer life ins $0 $60,000 Assume that Inventives tax rate for 2011 is 40 percent. What is the current portion of Inventives total income tax expense for 2011. A)106,200 B)120,200 C)130,200 D)144,200 Gamma had pretax accounting income of $1400 during 2011. Gamma used accelerated depreciation for tax purposes ($1,000) and SL depreciation for financial reporting ($200). During 2011, Gamma accrued warranty expenses of $900 and paid cash to honor warranties of $500. Gammas taxable income for 2011 would be A) 200 B) 1000 C) 1800 D) 2600 Please show all work for correct answers