· Period 1 Balance Sheet (Dec 31, 2022):

• Current Assets: $150,000
• Current Liabilities: $80,000

· Period 2 Balance Sheet (Dec 31, 2023):

• Current Assets: $180,000
• Current Liabilities: $100,000

·Analyze Deferred Tax Liabilities: Requirements:

• Examine the balance sheet for any deferred tax liabilities.
• Discuss the nature of deferred tax liabilities and their impact on a company's financial statements and tax obligations.
• Explain how changes in tax laws or accounting policies can affect the recognition and measurement of deferred tax liabilities.