GT Inc.s net income before tax on its financial statements was $700,000, and its taxable income was $810,000. The $110,000 difference is the aggregate of temporary book/tax differences. GTs tax rate is 21 percent.

1. Compute GTs tax expense for financial statement purposes.
2. Compute GTs tax payable.
3. Compute the net increase in GTs deferred tax assets or deferred tax liabilities (identify which) for the year.