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Differences between pretax accounting income and taxable income were as follows during 2021: Pretax accounting income Permanent difference ($ in millions) $310 (25) 285 (17)
Differences between pretax accounting income and taxable income were as follows during 2021: Pretax accounting income Permanent difference ($ in millions) $310 (25) 285 (17) $ 268 Temporary difference Taxable income The cumulative temporary difference as of the end of 2021 is $44 million (also the future taxable amount). The enacted tax rate is 25%. What is the deferred tax asset or liability to be reported in the balance sheet? (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).) X Answer is not complete. Deferred tax liability million
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