Question
Question text The first year of operations for Grayton Company is 2024. Given this information for 2024: No other permanent or temporary differences exist. The
Question text The first year of operations for Grayton Company is 2024. Given this information for 2024: No other permanent or temporary differences exist. The litigation item will be paid in 2027. The depreciation will reverse evenly over the next three years. Tax rate is 30%. Future net income is probable Indicate the proper deferred tax amount(s) to appear on the 12/31/24 balance sheet: Select one:
a. A noncurrent liability of $90,000
b. A noncurrent liability of $60,000
c. A current asset of $30,000 and a noncurrent liability of $90,000
d. A current liability of $30,000 and a noncurrent liability of $10,000
e. A noncurrent asset of $90,000 and a noncurrent liability of $30,000
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