Green Co. had book income of $565,000 and a tax rate of 35%. Assuming there is no booktax income difference, what is Green Co's Income Tax Expense and Income Tax Liability? $197,750;$197,750 Not enough information given $565,000;$197,750$197,750;$565,000 1 point Owl Co. had income before taxes of $860,000 and a tax rate of 30% in their first year of operation. Included in this income is $20,000 in cost of meals and entertainment with customers (Internal Revenue Code allows a deduction for only 50% of such meal and entertainment cost), and depreciation expense of $140,000. Depreciation on Owl's tax return is $190,000. Which of the following statements is true? Owl's entry will include a deferred tax liability of $15,000 Owl's entry will include a deferred tax liability of $12,000 Owl's entry will include a deferred tax asset of $12,000 Owl's entry will include a deferred tax asset of $15,000 Green Co. had book income of $565,000 and a tax rate of 35%. Assuming there is no booktax income difference, what is Green Co's Income Tax Expense and Income Tax Liability? $197,750;$197,750 Not enough information given $565,000;$197,750$197,750;$565,000 1 point Owl Co. had income before taxes of $860,000 and a tax rate of 30% in their first year of operation. Included in this income is $20,000 in cost of meals and entertainment with customers (Internal Revenue Code allows a deduction for only 50% of such meal and entertainment cost), and depreciation expense of $140,000. Depreciation on Owl's tax return is $190,000. Which of the following statements is true? Owl's entry will include a deferred tax liability of $15,000 Owl's entry will include a deferred tax liability of $12,000 Owl's entry will include a deferred tax asset of $12,000 Owl's entry will include a deferred tax asset of $15,000