Charlotte Ave started operations in 2021 and recognizes revenue from its installment sales in the period that it sells its custom-made motor homes. For its income tax purposes, however, Charlotte Ave recognizes revenue when it collects cash from the purchasers of the motor homes. Charlotte Ave has a 40% combined Federal and State income tax rate.

In 2021, Charlotte Aves total installment sales of the custom-made motor homes were $75 million with collections as follows (actual 2021 collections and estimated collections thereafter):

2021 $30 million (actual collections)

2022 $15 million (estimated collections)

2023 $15 million (estimated collections)

2024 $15 million (estimated collections

$75 million

16a. Ignoring all other information, what is the amount of Charlotte Aves Deferred Tax Asset or Deferred Tax Liability at December 31, 2021 (answer must also specify whether a DTA or DTL)?

16b. Ignoring all other information, what is the amount of Charlotte Aves Deferred Tax Asset or Deferred Tax Liability at December 31, 2022 (answer must also specify whether a DTA or DTL)?

16c. As a result of a new tax plan enacted by the new administration, the Corporate tax rate in 2023 was increased from 40% to 50%.

(16c-1) What adjustment, if any, of the Deferred Tax Asset or Deferred Tax Liability account at December 31, 2023 (must also specify whether DTA or DTL):

(16c-2) What is the balance of the Deferred Tax Asset or Deferred Tax Liability account at December 31, 2023 (must also specify whether DTA or DTL):