Exercise 12.16 The statement of financial position of Labrador Ltd at 30 June 2021 showed the following net assets: 2021 2020 Assets Cash Inventories Receivables Allowance for doubtful debts Plant Accumulated depreciation Deferred tax asset Liabilities Accounts payable Provision for long service leave Rent received in advance Deferred tax liability 72,870 85,170 157,900 161,530 451,200 493,270 (57,860) (42,920) 452,000 452,000 (256,160) (203,030) 43,544 279,130 65,010 27.110 7 255,260 47.540 20,020 41,841 Additional information (a) Accumulated depreciation of plant for tax purposes was $330,100 at 30 June 2020, and depreciation for tax purposes for the year ended 30 June 2021 amounted to $68,240, (b) The tax rate is 30%. (a) Prepare a deferred tax worksheet to calculate the end of reporting period adjustment to deferred tax asset and liability accounts as at 30 June 2021. (Do not leave any answer fields blank enter a zero in these fields.) Labrador Lad Deferred to worksheet 30 June 2021 Taxable Deductible Carrying Future taxable Future deductible temporary temporary amount amount amount Tax base differences differences Assets Liabilities Total temporary differences Adjustment