Spain Limited is a limited company registered in Hong Kong in $2022.$ The principle activity of Spain Limited is to manufacture and sell AI products. It has a financial year$-$end at $31$ December. According to HKAS $12$ Income Taxes, the management of Spain Limited is required to account for deferred tax. The following financial items have been extracted from the statements of financial position of $2022$ and $2023$:

Spain Limited has always been a profitable operation and it is likely that it will continue generating taxable profits in future years against which any resulting deferred tax assets can be utilised. The Inland Revenue Department does not allow Spain Limited to offset current tax assets against current tax liability. The corporate tax rate is $16\mathrm{.}5\%.$

a$)$ Determine the deferred tax assets and deferred tax liability for $2022$ and $2023.$

b$)$ Prepare journal entries with narratives for Spain Limited to record the deferred tax adjustments for the years ended $31$ December $2022$ and $2023.$

C$)$ Discuss and explain how a listed company in Hong Kong account for income taxes and disclose income taxes information in the annual report. Please provide a real life example from a financial statement extract.