At December $31,2022,$ Pharoah Corporation had a temporary difference $($related to pensions$)$ and reported a related deferred tax

asset of $$33,300$ on its balance sheet. At December $31,2023,$ Pharoah has five temporary differences. An analysis reveals the

following:

Temporary Difference

Pension liability: expensed as incurred on the books; deductible when funded for tax purposes

Royalties collected in advance: recognized when earned for accounting purposes and when received for tax purposes

Accrued liabilities: various expenses accrued for accounting purposes and recognized for tax purposes when paid

Deferred gross profit: profits recognized on instalment sales when sold for book purposes, and as collected for tax purposes

Equipment: straight$-$line depreciation for accounting purposes, and CCA for tax purposes

The enacted tax rate has been $30\%$ for many years. In November $2023,$ the rate was changed to $28\%$ for all periods after January $1,$

Assume that the company has income tax due of $$180,200$ on the $2023$ tax return and that Pharoah follows IFRS.

Indicate how deferred taxes should be presented on Pharoah's December $31,2023$ SFP$.$

PHAROAH CORPORATION

$($Partial$)$ Balance Sheet

December $31,2023$

Non$-$Current Liabilities

Deferred Tax Liability

$

Calculate taxable income for $2023.$

Taxable income $

Calculate accounting income for $2023.$

Accounting income $

Prepare the income tax section of the $2023$ income statement, beginning with the line "Income before income tax."

PHAROAH CORPORATION

$($Partial$)$ Income Statement

For the Year Ended December $31,2023$

Income before Income Tax

$

Income Tax Expense $-$ Current