At December 31, 2019, Monty Corporation had a temporary difference (related to pensions) and reported a related deferred tax asset of $29,700 on its balance sheet. At December 31, 2020, Monty has five temporary differences. An analysis reveals the following: Future (Taxable) Deductible Amounts 2021 2022 2023 $30,000 $20,000 $10,000 2. 76,000 Temporary Difference 1. 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 4. Deferred gross profit: profits recognized on instalment sales when sold for book purposes, and as collected for tax purposes 5. Equipment: straight-line depreciation for accounting purposes, and CCA for tax purposes 3. 24,000 (36,000) (36,000) (36,000) (90,000) $4,000 (50,000) ($ 66,000) (40,000) ($ 66,000) The enacted tax rate has been 30% for many years. In November 2020, the rate was changed to 28% for all periods after January 1, 2022. Assume that the company has income tax due of $180,000 on the 2020 tax return and that Monty follows IFRS. Indicate how deferred taxes should be presented on Monty Corporation's December 31, 2020 SFP. Monty Corporation (Partial) Balance Sheet $ How would your response to part (a) change if Monty reported under ASPE? Monty Corporation (Partial) Balance Sheet $ $ Calculate taxable income for 2020. Taxable income $ $ Calculate accounting income for 2020. Accounting income $ Prepare the income tax section of the 2020 income statement, beginning with the line "Income before income tax." (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Monty Corporation (Partial) Income Statement $