Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences: ($ in thousands) Situation 1 2 3 4 Taxable income $ 113 $ 271 $ 265 $344 Future deductible amounts 22 27 27 Future taxable amounts 22 22 44 Balance(s) at beginning of the year: Deferred tax asset 3.4 16 6.8 Deferred tax liability 3.4 3.4 The enacted tax rate is 40%. 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).)