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For the year ended December 31, 2023, Blossom Ltd. reported income before income taxes of $212,200. Prior to 2023 taxable income and accounting income was

image text in transcribedimage text in transcribed For the year ended December 31, 2023, Blossom Ltd. reported income before income taxes of $212,200. Prior to 2023 taxable income and accounting income was the same each year. In 2023, Blossom Ltd. paid $113,700 for advertising; of this amount, $37,900 was expensed in 2023 . The remaining $75,800 was treated as a prepaid expense for accounting purposes and would be expensed equally over the 2024-2025 period. The full $113,700 was deductible for tax purposes in 2023. The company paid $31,000 in 2023 for membership in a local golf club (which was not deductible for tax purposes). In 2023 Blossom Ltd. began offering a 1-year warranty on all merchandise sold. Warranty expenses for 2023 were $25,300, of which $20,300 was actual repairs for 2023 and the remaining $5,000 was estimated repairs to be completed in 2024 . Meal and entertainment expenses totalled $37,600 in 2023 , only half of which were deductible for income tax purposes. Depreciation expense for 2023 was $104,300. Capital Cost Allowance (CCA) claimed for the year was $132,500. Depreciation and CCA relate to an asset that was purchased on January 1, 2023 for $521,500. Blossom was subject to a 25% income tax rate for 2023. Blossom follows IFRS. (a) Your answer is correct. Calculate the amount of any permanent differences for 2023. Permanent differences $ Calculate the amount of any temporary differences for 2023. Temporary differences $

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