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Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences: The enacted tax rate is 25%.

Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences:

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The enacted tax rate is 25%. Required: For each situation, determine the following: (Enter your answers in thousands rounded to one decimal place (i.e. 1,200 should be entered as 1.2). Negative amounts should be indicated by a minus sign. Leave no cell blank, enter "0" wherever applicable.) image text in transcribed

1 $128 16 ($ in thousands) Situation 2 3 4 $260 $284 $392 20 20 16 16 72 Taxable income Future deductible amounts Future taxable amounts Balance(s) at beginning of the year: Deferred tax asset Deferred tax liability N 4 20 2 8 Situation 1 2 3 4 a. Income tax payable currently. b. Deferred tax asset-ending balance. c. Deferred tax assetchange. d. Deferred tax liability-ending balance. e. Deferred tax liability-change. f. Income tax expense

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