Oriole Corporation purchased equipment very late in $2023.$ Based on generous capital cost allowance rates provided in the Income Tax Act, Oriole claimed CCA on its $2023$ tax return but did not record any depreciation because the equipment was being tested. This temporary difference will reverse and cause taxable amounts of $$34,900$ in $2024,$ $$32,500$ in $2025,$ and $$47,200$ in $2026.$ Oriole$$s accounting income for $2023$ is $$251,200$ and the tax rate is $30\%$ for all years. There are no deferred tax accounts at the beginning of $2023.$

$($a$)$

Your answer is correct.

Calculate the deferred tax balance at December $31,2023.$

Deferred tax liability is $$34380$

$($b$)$

Calculate taxable income and income tax payable for $2023.$

Taxable income

$enter a dollar amount

Income tax payable

$enter a dollar amount