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Corporation H's auditors prepared the following reconciliation between book and taxable income. H's tax rate is 21 percent. Net income before tax Permanent book/tax

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Corporation H's auditors prepared the following reconciliation between book and taxable income. H's tax rate is 21 percent. Net income before tax Permanent book/tax differences Temporary book/tax differences Taxable income Required: $ 600,000 15,000 (76,000) $ 539,000 a. Compute Corporation H's tax expense for financial statement purposes. b. Compute Corporation H's tax payable. c. Compute the net increase in Corporation H's deferred tax assets or deferred tax liabilities (identify which) for the year.

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