Question 2

Flint Corporation began operations in 2020 and reported pretax financial income of $246,000 for the year. Flint's tax depreciation exceeded its book depreciation by $42,000. Flint's tax rate for 2020 and years thereafter is 30%. In its December 31, 2020, balance sheet, what amount of deferred tax liability should be reported? Deferred tax liability to be reported $