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Blossom Corporation reports the following amounts in its first three years of operations. 2023 2024 2025 Taxable income $246,500 $122,900 $123,000 Accounting income 161.800
Blossom Corporation reports the following amounts in its first three years of operations. 2023 2024 2025 Taxable income $246,500 $122,900 $123,000 Accounting income 161.800 137.700 132.900 The difference between taxable income and accounting income is due to one reversing difference. The tax rate is 30% for all years and the company expects to continue with profitable operations in the future. For each year, identify the amount of the reversing difference originating or reversing during that year, and indicate the amount of the temporary difference at the end of the year. Year 2023 $ Amount of Temporary Difference Originating or Reversing during the Year Deductible Temporary Difference at Year-End 2024 $ 2025 $ eTextbook and Media List of Accounts $ Indicate the balance in the related deferred tax account at the end of each year and identify it as a deferred tax asset or liability. Deferred tax eTextbook and Media List of Accounts 12/31/2023 12/31/2024 12/31/2025
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