Formula: Add, Subtract; Cell Referencing

Using Excel to Determine Income Tax Effects

PROBLEM

At December $31,2022$ and $2023,$ Secor Inc. reported amounts for a

deferred tax asset. Information concerning the company's income taxes

is provided here.

Student Work Area

Required: Provide input into cells shaded in yellow in this template. Use

mathematical formulas with cell references to the Problem area or to this work

area.

What amount should Secor report as total $2020$ income tax expense?

$2023$ income tax expense

$$,22,000$

Prepare the journal entries to record income taxes for $2020.$