PLEASE ANSWER ALL THE QUESTIONS!!! Chapter 19 Content Learning Worksheet - Answer the question and provide the page number of your solution. 1. ______________What is Taxable Income used to compute for a company's financial records? 2. ______________What is Pretax Financial Income used to compute for a company's financial records? 3. _____________What two accounts make up Income Tax Expense? 4. __________ Current tax expense = _______________________ 5. ___________Define Temporary Differences: 6. ___________Temporary differences result is two types of deferred taxes, name them, define them and discuss the situation that occurs for each in regards to financial income and taxable income. a. ________________ ______________________________________________________________ ______________________________________________________________ b. ________________ ______________________________________________________________ ______________________________________________________________ 7. __________ Deferred tax expense = __________________________________ 8. _________Name a financial situation that would result in a Permanent Difference. 9. _________Define a Net Operating Loss (NOL): 10. _________(Appendix 19B) Net Operating Losses can be carried back ________ years and would result in the following entry being journalized: 11. _________Net Operating Losses can be carried forward up to an____________ amount of years and would result in the following entry being journalized: 12. _________Explain the situation when a Valuation Allowance may be used: 13. _________How are Deferred Tax assets and Deferred Tax liabilities presented on the Balance Sheet? PLEASE ANSWER ALL THE QUESTIONS!!!