Question #11 Cross Company reported the following results for the year ended December 31, 2018, its first year of operations: 2018 Income (per books before income taxes) $ 2,000,000 Taxable income $ 3,200,000 The disparity between book income and taxable income is attributable to a temporary difference which will reverse in 2019. . What should Cross record as a net deferred tax asset or liability for the year ended December 31, 2018, assuming that the enacted tax rates in effect are 40% in 2018 and 35% in 2019? #11 - Indicate whether a deferred Tax Asset or Deferred Tax Liability and $$ Amount as of December 31, 2018