Sheridan Corporation purchased equipment very late in $2023.$ Based on generous capital cost allowance rates provided in the Income

Tax Act, Sheridan claimed CCA on its $2023$ tax return but did not record any depreciation because the equipment was being tested.

This temporary difference will reverse and cause taxable amounts of $$32,300$ in $2024,$$$35,200$ in $2025,$ and $$47,200$ in $2026.$

Sheridan's accounting income for $2023$ is $$251,400$ and $$207,400$ in each of $2024$ and $2025,$ and the tax rate is $30\%$ for all years.

There are no deferred tax accounts at the beginning of $2023.$

$($a$)$

Your answer is partially correct.

Calculate the deferred tax balances at December $31,2024$ and $2025.$

$2024$

$2025$

Deferred tax

$

$