Deferred Tax Liabilities Turnip Company purchased an asset at a cost of $10,000 with a 10-year life during the current year. Turnip uses differing depreciation method for reporting and income tax purposes. The depreciation expense during the current year for financial reporting is $1,000 and for income tax $2,000. Turnip is subject to a 30% enacted future tax rate. Prepare a schedule to compute Turnip's (a) ending future taxable amount, (b) ending deferred tax liability, and (c) change in deferred tax liability (deferred tax expense) for the current year. If an amount is zero, enter "0". Feedback Theck My Work amount of its income tax expense (or benefit) for the year