Question 18 REQUIRED: this exercise is divided in FOUR parts (A, B, C, D). Answer the questions using the drop-down menu. Please note: algebraic sign is NOT required. Please note: if the answer number in part A and/or in part B is not a two-digits, please enter "0" where needed. (Example: if answer is 7 then enter"07") Please note: in case is needed, please round to the nearest Euro units. Green Company is resident, for tax purposes, in Italy. Here is the income statement for 2019 INCOME STATEMENT 58 86 sales revenues cost of goods sold Telephone expenses 10 10 Unrealized gain on trading securities Salaries/wages Board of Directors 12 The tax advisor is informed that the Board of Directors wages accrued during 2019, but will be paid during 2021. The Italian laws are to be applied to compute Taxable income. Income tax rate is 50%. In light of the above: PART A Compute taxable income for the year. Please place your answer here, only numbers. PART B Compute net profit for the year. Please place your answer here, only numbers. The tax advisor is informed that the Board of Directory wages accrued during 2019, but will be paid during 2021. The Italian laws are to be applied to compute Taxable income income tax is 50% in light of the above PART A Compute taxable income for the year. Please place your answer here, only numbers PART B Compute net profit for the year. Please place your answer here, only numbers PART C Answer the question (YES or NO). At the end of the year, does the company account for a deferred tax asset? Please place your answer here, choose YES or NO PART D Answer the question (YES or NO). At the end of the year, does the company account for a deferred tax liability? Please place your answer here, choose YES or NO Question 18 REQUIRED: this exercise is divided in FOUR parts (A, B, C, D). Answer the questions using the drop-down menu. Please note: algebraic sign is NOT required. Please note: if the answer number in part A and/or in part B is not a two-digits, please enter "0" where needed. (Example: if answer is 7 then enter"07") Please note: in case is needed, please round to the nearest Euro units. Green Company is resident, for tax purposes, in Italy. Here is the income statement for 2019 INCOME STATEMENT 58 86 sales revenues cost of goods sold Telephone expenses 10 10 Unrealized gain on trading securities Salaries/wages Board of Directors 12 The tax advisor is informed that the Board of Directors wages accrued during 2019, but will be paid during 2021. The Italian laws are to be applied to compute Taxable income. Income tax rate is 50%. In light of the above: PART A Compute taxable income for the year. Please place your answer here, only numbers. PART B Compute net profit for the year. Please place your answer here, only numbers. The tax advisor is informed that the Board of Directory wages accrued during 2019, but will be paid during 2021. The Italian laws are to be applied to compute Taxable income income tax is 50% in light of the above PART A Compute taxable income for the year. Please place your answer here, only numbers PART B Compute net profit for the year. Please place your answer here, only numbers PART C Answer the question (YES or NO). At the end of the year, does the company account for a deferred tax asset? Please place your answer here, choose YES or NO PART D Answer the question (YES or NO). At the end of the year, does the company account for a deferred tax liability? Please place your answer here, choose YES or NO