I sent the same question to many $\text{'}\text{'}$experts$\text{'}\text{'}$ and non of them have been able to respond correctly: In its first two years of operations, ending in $2020,$ Robert Inc paid taxes of$$5,700$ on taxable income of $$30,000.$ The tax rate for $2021$ is $20\%.$

Robert Inc's loss before taxes for $2021$ is $$152,000.$ Robert Inc's expensesincluded $$710,000$ of depreciation expense, and meals and entertainmentcosts of $$18,000($they are one$-$half deductible for tax purposes$).$

At the beginning of the year, Robert Inc had a future tax liability of $$24,700$based on $$130,000$ of temporary differences related to its fixed assets. Robert Inc will claim $$660,000$ of CCA in $2021.$ Management anticipatesusing all of the loss carryforwards within the allowable carryforward period.

Robert Inc has a calendar year end.

Required:

a$)$ Calculate Robert Inc's taxable income$/$loss for $2021.$

b$)$ Prepare the journal entries to record income taxes for $2021.$

c$)$ Calculate Robert Inc's $2021$ total tax expense$/$recovery$.$ What is theireffective tax rate for $2021?$ please note that the Taxable Income is $-93,000.$

Business loss $-152,000$

Add bac depreciation: $710,000$

Add back meals $(18,000*0\mathrm{.}50)9000$

Less CCA: $-660,000$

Business Income $-93,000$

Please respond part B using ASPE $($Future Tax Liability$)$