Cullumber Co. at the end of 2021, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows:

Pretax financial income		$490,000
Extra depreciation taken for tax purposes		(1,062,000)
Estimated expenses deductible for taxes when paid		960,000
Taxable income		$388,000

Use of the depreciable assets will result in taxable amounts of $354,000 in each of the next three years. The estimated litigation expenses of $960,000 will be deductible in 2024 when settlement is expected.

(a)

Prepare a schedule of future taxable and deductible amounts. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

		2022		2023		2024		Total
Future taxable (deductible) amounts
Extra depreciation		$		$		$		$
Litigation