SQ 3-6 Grey Ltd has the following account balances as at 30 June 2018: DTA 12 000 Dr DTL 19 000 Cr Income tax payable 64 000 Cr Grey Ltd has no permanent differences for tax purposes but does have temporary differences. For the year ending 30 June 2019, Grey Ltd recorded the following journal for current and deferred tax 30.6.19 consequences, using a tax rate of 30%: Dr Deferred tax asset 10 000 Dr Income Tax expense 75 000 Cr Income Tax payable 78 000 Cr Deferred tax liability 7 000 (To record current and tax consequences for y/e 30 June 2019) Required: Showing all workings, answer the following questions: (a) Using the information given above, determine Grey Lid's accounting profit before tax for the year ending 30 June 2019. . . . . . . . . .... . . . ... . . ... (b) Using the information given above, determine Grey Lid's taxable income for the year ending 30 June 2019. . . . . ....... . . . . . ...(c) Prepare the journal entry to set-off DTA and DTL for presentation purposes as at 30 June 2019 (hint: ensure your journal is professionally presented with a date, clear debit and credit, correct general ledger accounts and a narration). . . . . . . . . . . . ... .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . ..... . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . .... . . . . . . ... . . . . . . . .. . . . . . . . . . . . ... (d) The closing balance of Income Tax Payable as at 30 June 2019 is $56,000 CR. How much tax was paid in cash for the year ending 30 June 2019? .............. ............ ................... .... . . . . . . . . . . .. . Page 2 of 5