(Situational amounts are stated in thousands) Situation 2 Situation 1 $ 85 $ 215 15 5505 15 $ 195 Situation 3 Situation 4 $ 260 20 20 15 30 Taxable income Total Future deductible amounts Total Future taxable amounts Balance at beginning of year: Deferred tax asset Deferred tax liability The enacted tax rate is 40%. 0 20 Required: 9 4 0 22 02 1. For each situation (1-4), determine your responses for a. through f. and fill in the table appropriately: a. Income taxes payable b. Deferred tax asset balance c. Deferred tax asset change d. Deferred tax liability balance e. Deferred tax liability change f. Income tax expense 1 2 2. For each situation, prepare the journal entry for taxes. Situation 1 3 4 Situation 2 Situation 3 Situation 4