Question 2 of 8

Question 2 of 8 View Policies Show Attempt History Current Attempt in Progress The following facts relate to Headland Corporation. 0.79 / 1 1. 2. 3. 4. 5- 6. 7. 8. Deferred tax liability, January 1, 2020, $42,800. Deferred tax asset, January 1, 2020, $0. Taxable income for 2020, $101,650. Pretax financial income for 2020, $107,000. Cumulative temporary difference at December 31, 2020, giving rise to future taxable amounts, $256,800. Cumlative temporary difference at December 31, 2020, giving rise to future deductible amounts, $37,450. Tax rate for all years, 20%. The company is expected to operate profitably in the future. Your answer is correct. Compute income taxes payable for 2020. Income taxes payable 20,330