Flint Corporation has a taxable temporary difference related to net book value versus UCC of $703,000 at December 31, 2020. This difference will reverse as follows: 2021, $59,200; 2022, $317,000; and 2023, $326,800. Enacted tax rates are 25% for 2021 and 2022, and 30% for 2023. Calculate the amount that Flint should report as a deferred tax asset or liability at December 31, 2020. Deferred tax v to be reported ta If the tax rate for 2023 had been 25%, and unexpectedly increased to 30% at the end of 2020, how would the increase in the tax rate for 2023 have affected the deferred tax asset or liability, and the related expense, in 2020? The deferred tax expense and liability would v in 2020 by $ Sarasota Corp. follows IFRS and began operations in 2020 and reported accounting income of $ 271,000 for the year. Sarasota's CCA exceeded its book depreciation by $ 35,200. Sarasota's tax rate for 2020 and years thereafter is 30%. Assume that the $35,200 difference is the only difference between Sarasota's accounting income and taxable income. Prepare the journal entries to record the current tax expense, deferred tax expense, income tax payable, and the deferred tax liability. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit December 31, 2020 (To record current tax expense) December 31, 2020 (To record deferred tax expense)