Oce 20 Med wid Why WD Me . GEW Mladen ht Oh Penne Multiple of Book Awete inly nain separate sets of for the case C w of any on why she justified in the Day they cable to fully discovers the those ned for external reporting purposes? Calculating Deferred Income Taxes. The Harmon Corporation prepared the following income statements Om Epilan tax returns for Your through Year Assignments with the love in the margin are available in Cowe. See the Preface of the book for details CHECK OURE indicates that check figures are available on the book's website EXERCISES TA Year 1 Income Statement Sales Operating expenses Prefax or income Provision of income taxes Not incante $1.000 550 350 140 $ 210 Year 2 Year Yoara $1,000 $1,000 $1.000 650 850 350 350 350 350 140 140 140 $ 210 $ 210 $ 210 Income Tax Return Opruting expenses Table Income Income tax payable Antax net income 400 Year 1 Year 2 $1,000 $1,000 900 900 100 100 80 80 $20 $ 20 Year 3 Your 4 $1,000 $1,000 400 600 600 200 200 $ 400 $ 400 Calodate the balance in the company's deferred income tax liability account at the end of each year. Explain What a growing balance in the deferred income tax liability is likely to indicate about a company's net income relative to its taxable income. Why might investment professionals view this situation positively? Negatively? Oce 20 Med wid Why WD Me . GEW Mladen ht Oh Penne Multiple of Book Awete inly nain separate sets of for the case C w of any on why she justified in the Day they cable to fully discovers the those ned for external reporting purposes? Calculating Deferred Income Taxes. The Harmon Corporation prepared the following income statements Om Epilan tax returns for Your through Year Assignments with the love in the margin are available in Cowe. See the Preface of the book for details CHECK OURE indicates that check figures are available on the book's website EXERCISES TA Year 1 Income Statement Sales Operating expenses Prefax or income Provision of income taxes Not incante $1.000 550 350 140 $ 210 Year 2 Year Yoara $1,000 $1,000 $1.000 650 850 350 350 350 350 140 140 140 $ 210 $ 210 $ 210 Income Tax Return Opruting expenses Table Income Income tax payable Antax net income 400 Year 1 Year 2 $1,000 $1,000 900 900 100 100 80 80 $20 $ 20 Year 3 Your 4 $1,000 $1,000 400 600 600 200 200 $ 400 $ 400 Calodate the balance in the company's deferred income tax liability account at the end of each year. Explain What a growing balance in the deferred income tax liability is likely to indicate about a company's net income relative to its taxable income. Why might investment professionals view this situation positively? Negatively