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Presented below are two independent situations related to future taxable and deductible amounts resulting from temporary differences existing at December 31, 2025. 1. Teal Co.

image text in transcribedimage text in transcribed Presented below are two independent situations related to future taxable and deductible amounts resulting from temporary differences existing at December 31, 2025. 1. Teal Co. has developed the following schedule of future taxable and deductible amounts. 2. Flint Co. has the following schedule of future taxable and deductible amounts. Both Teal Co. and Flint Co. have taxable income of $4,800 in 2025 and expect to have taxable income in all future years. The tax rates enacted as of the beginning of 2025 are 30\% for 2025-2028 and 35\% for years thereafter. All of the underlying temporary differences relate to noncurrent assets and liabilities. 1. Compute the net amount of deferred income taxes to be reported at the end of 2025 , and indicate how it should be classified on the balance sheet for situation one. Deferred income taxes to be reported at the end of 2025 in Teal Co. \$ TEAL CO. Balance Sheet (Partial) $ 2. Compute the net amount of deferred income taxes to be reported at the end of 2025 , and indicate how it should be classified on the balance sheet for situation two. Deferred income taxes to be reported at the end of 2025 in Flint Co. \$

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