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Hi! I was hoping you could help me with this problem! I'm not sure what I did wrong. Thank you! The following facts relate to

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Hi! I was hoping you could help me with this problem! I'm not sure what I did wrong. Thank you!

The following facts relate to Krung Thep Corporation. 1. Deferred tax liability, January 1,2025,$20,000. 2. Deferred tax asset, January 1,2025,$0. 3. Taxable income for 2025,$95,000. 4. Pretax financial income for 2025,$200,000. 5. Cumulative temporary difference at December 31,2025 , giving rise to future taxable amounts, $240,000. 6. Cumulative temporary difference at December 31,2025 , giving rise to future deductible amounts, $35,000. 7. Tax rate for all years, 20%. 8. The company is expected to operate profitably in the future. (a) Compute income taxes payable for 2025

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