Anthony Ltd. began business on January 1, 2022. At December 31, 2022, it had a $4,500 balance in the Deferred Tax Liability account that pertains to property, plant, and equipment acquired during 2022 at a cost of $900,000. The property, plant, and equipment is being depreciated on a straight-line basis over six years for financial reporting purposes, and is a Class 820% asset for tax purposes. Anthonys income before income tax for 2023 was $60,000. Anthony Ltd. follows IFRS and the half-year convention for depreciation. The following items caused the only differences between accounting income before income tax and taxable income in 2023." 1. In 2023, the company paid $56,250 for rent; of this amount, $18,750 was expensed in 2023. The other $37,500 will be expensed equally over the 2024 and 2025 accounting periods. The full $56,250 was deducted for tax purposes in 2023. 2. Anthony Ltd. pays $9,000 a year for a membership in a local golf club for the companys president. 3. Anthony Ltd. now offers a one-year warranty on all its merchandise sold. Warranty expenses for 2023 were $9,000. Cash payments in 2023 for warranty repairs were $4,500. 4. Meals and entertainment expenses (only 50% of which are ever tax deductible) were $12,000 for 2023. 5. The maximum allowable CCA was taken in 2023. There were no asset disposals for 2023. Assume the PPE is considered eligible equipment for purposes of the Accelerated Investment Incentive (under the AII, instead of using the half-year rule, companies are allowed a first-year deduction using 1.5 times the standard CCA rate).

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Instructions: a) Calculate the balance in the Deferred Tax Asset or Deferred Tax Liability account at December 31, 2023. c) Prepare the journal entries to record income taxes for 2023. income tax." section of the income statement for 2023, beginning with the line "Income before e) Indicate how deferred taxes should be presented on the December 31, 2023 statement of financial position. Statement of financial position, December 31, 2023 b) Calculate income tax payable for 2023 . c) Prepare the journal entries to record income taxes for 2023