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Pretax accounting income (income statement) Inventory impairments in excess of deductible amount Depreciation in excess of financial statement amount Taxable income (tax return) $500,000 40,000

Pretax accounting income (income statement) Inventory impairments in excess of deductible amount Depreciation in excess of financial statement amount Taxable income (tax return) $500,000 40,000 ((120,000))/($420,00 theta) Multiple Choice Current deferred tax asset of $10,000 and noncurrent deferred tax liability of $30,000 Noncurrent deferred tax liability of $20,000 Noncurrent deferred lax asset of $20,000 Noncurrent deferred tax asset of $10,000 and noncurrent deferred tax liability of $30,000

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