At December 31 year-end, a company's income statement reported the following: Prepaid expense $20,000 Country club dues 15,000 Based on the above information temporary differences amount to $15,000 $20,000 $0 $5.000 Which of the following is a correct statement? Deductible differences lead to a deferred tax liability. O Permanent expenses lead to a deferred tax asset. Taxable differences lead to a deferred tax liability. Permanent revenue lead to a deferred tax liability. Which of the following temporary differences will result in a deferred tax liability? O Excess of tax depreciation over financial accounting depreciation. Subscriptions received in advance. O Bad debt expense. Warranty expense