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Problem 16-37 (LO 16-2) (Algo) Assume Maple Corporation has just completed the third year of its existence (year 3). The table below indicates Maple's ending

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Problem 16-37 (LO 16-2) (Algo) Assume Maple Corporation has just completed the third year of its existence (year 3). The table below indicates Maple's ending book inventory for each year and the additional I.R.C. 5263A costs it was required to include in its ending Inventory, Maple immediately expensed these costs for book purposes. In year 2. Maple sold all of its year 1 ending inventory, and in year 3 it sold all of its year 2 ending inventory Ending book inventory Additional IC 5263A costs Ending tax inventory Year 1 $3,020,000 64 cee $ 3,064,000 Year 2 $3,500,000 32.00 53,622,00 Year 3 $ 2,839,000 50,25e $ 2,889,75e Required: a. What book-tax difference associated with its inventory did Maple report in year 1? Was the difference favorable or unfavorable? Was it permanent or temporary b. What book-tax difference associated with its inventory did Maple report in year 2? Was the difference favorable or unfavorable? Was it permanent or temporary? e. What book-tax difference associated with its inventory did Maple report in year 3? Was the difference favorable or unfavorable? Was it permanent or temporary Complete this question by entering your answers in the tabs below. Reg A RGB Rec What book-tax difference associated with its inventory did Maple report in year 17 was the difference favorable or unfavorable? Was it permanent or temporary? Book once Was the difference favorable or unfavorable? Wes permanent clamporary? RegB> Prey 1 of 1 !! Next have a. What book-tax difference associated with its inventory did Maple report in year 1? Was the Was it permanent or temporary? b. What book-tax difference associated with its inventory did Maple report in year 2? Was the Was it permanent or temporary? c. What book-tax difference associated with its inventory did Maple report in year 3? Was the Was it permanent or temporary? Complete this question by entering your answers in the tabs below. Reg A Reg B Reg C What book-tax difference associated with its inventory did Maple report in year 2? Was the differenc unfavorable? Was it permanent or temporary? Book-tax difference Was the difference favorable or unfavorable? Was it permanent or temporary? Ending book inventory Additional I.R.C. 5263A costs Ending tax inventory $3,eze, eee 44, Bee $ 3,864.000 $3,548,888 82,80 $3,622,888 Required: 2. What book-tax difference associated with its inventory did Maple report in Was it permanent or temporary? b. What book-tax difference associated with its inventory did Maple report in Wasit permanent or temporary? c. What book-tax difference associated with its inventory did Maple report in Was it permanent or temporary? Complete this question by entering your answers in the tabs below. Reg A Reg B Reqc What book-tax difference associated with its inventory did Maple report in year 37 W unfavorable? Was it permanent or temporary? Book-tax difference Was the difference favorable or unfavorable? Was it permanent or temporary? Ac GO Prey 1 of 1 Next 85F to search i o Required: a. Reconcile book income to taxable income for Timpanogos adjustments necessary to arrive at taxable income. b. Identify each book-tax difference as either permanent (P) c. Complete Schedule M-1 for Timpanogos. d. Compute Timpanogos Incorporated's tax liability for 2021. Complete this question by entering your answers in the Req A and B Schedule M1 Reg D Compute Timpanogos Incorporated's tax liability for 2021. Tax liability

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