Oriole Tar and Gravel Ltd. operates a road construction business. In its first year of operations, the company won a contract to build a road for the municipality of Cochrane West. It is estimated that the project will be completed over a three-year period starting in June 2023. Oriole uses the percentage-of-completion method of recognizing revenue on its long-term construction contracts. For tax purposes, and in order to postpone the tax on such revenue for as long as possible, Oriole uses the completed-contract method allowed by the CRA. By its first fiscal year end, the accounts related to the contract had the following balances: Accounts Receivable $332,000 Contract Asset/Liability (net of billings to date of $402,000) 114,000 Revenue from Long-Term Contracts 516,000 Construction Expenses 360,000 The accounts related to the equipment that Oriole purchased to construct the road had the following balances at the end of the first fiscal year ended December 31, 2023, for accounting and tax purposes: Equipment $1,150,000 Accumulated Depreciation-Equipment 172,000 Undepreciated Capital Cost 1,039,000 Orioles tax rate is 25% for 2023 and subsequent years. Income before income tax for the year ended December 31, 2023, was $186,000. Oriole reports under IFRS.

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Oriole Tar and Gravel Ltd. operates a road construction business. In its first year of operations, the company won a contract to build a road for the municipality of Cochrane West. It is estimated that the project will be completed over a three-year period starting in Jur 2023. Oriole uses the percentage-of-completion method of recognizing revenue on its long-term construction contracts. For tax purposes, and in order to postpone the tax on such revenue for as long as possible, Oriole uses the completed-contract method allowed by the CRA. By its first fiscal year end, the accounts related to the contract had the following balances: The accounts related to the equipment that Oriole purchased to construct the road had the following balances at the end of the first fiscal year ended December 31,2023 , for accounting and tax purposes: Oriole's tax rate is 25% for 2023 and subsequent years. Income before income tax for the year ended December 31,2023 , was $186,000. Oriole reports under IFRS. (a) Calculate the deferred tax asset or liability balances at December 31, 2023. Deferred tax $ eTextbook and Media List of Accounts Attempts: 0 of 2 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above. (d) The parts of this question must be completed in order. This part will be avallable when you complete the part above. (e)