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Larkspur Corporation has one temporary difference at the end of 2 0 2 0 that will reverse and cause taxable amounts of $ 5 9

Larkspur Corporation has one temporary difference at the end of 2020 that will reverse and cause taxable amounts of $59,400 in 2021,$64,200 in 2022, and $69,700 in 2023. Larkspur's pretax financial income for 2020 is $316,600, and the tax rate is 30% for all years. There are no deferred taxes at the beginning of 2020.
(a)
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Compute taxable income and income taxes payable for 2020.
Taxable income
Income taxes payable
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