KWI Incorporated began operations in 2019. The summarized financial statements of KWI reflected the following pre-tax amounts for its December 31 year end: Income statement 2019 2020 Revenue Depreciation expense Golf club dues $420,000 $500,000 52,000 52,000 10,000 Other operating expenses 231,000 252,000 Pre-tax accounting income 137,000 186,000 Balance sheet Development costs Equipment 60,000 $520,000 $520,000 Accumulated amortization (52,000) (104,000) 468,000 476,000 KWI has a tax rate of 22% in 2019 and 25% in 2020; rates are enacted in February each year. Development costs meet the criteria for capitalization for accounting purposes. For tax purposes, development costs are fully deducted. CCA for income tax purposes was claimed as follows: 2019, $26,000, 2020, $49,400. KWI follows IFRS. Required: a. For 2020, calculate the income taxes payable. (3 marks) b. For each year (2019 and 2020), calculate the deferred income tax adjustment at the end of each year. (4 marks) c. Prepare the required entry to record income tax expense for 2020. (3 marks) d. When can a company report deferred income taxes relating to all temporary differences at a single net amount on the statement of financial position? (1 mark)