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Isaac Inc. began operations in January 2018. For certain of its property sales, Isaac recognizes income in the period of sale for financial reporting purposes.

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Isaac Inc. began operations in January 2018. For certain of its property sales, Isaac recognizes income in the period of sale for financial reporting purposes. However, for income tax purposes, Isaac recognizes income when it collects cash from the buyer's installment payments. In 2018, Isaac had $600 million in sales of this type. Scheduled collections for these sales are as follows: $ 60 million 2018 2019 120 million 2020 120 million 150 million 2021 150 million 2022 $600 million 30% income tax rate and that there were no other differences in income for financial statement Assume that Isaac has a and tax purposes. Ignoring operating expenses, what deferred tax liability would Isaac report in its year-end 2018 balance sheet? (Round your answer to the nearest whole million.) Multiple Choice $540 million. Assume that Isaac has a 30% income tax rate and that there were no other differences in income for financial statement and tax purposes. Ignoring operating expenses, what deferred tax liability would Isaac report in its year-end 2018 balance sheet? (Round your answer to the nearest whole million.) Multiple Choice $540 million. $18 million. $162 million. $180 million

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