Swifty Corporation has provided the following information for the year ended December $31,2023.$

Swifty Corporation

Income Statement

For the Year Ended December $31,2023$

Revenue

Additional Information:

Swifty is privately owned and uses ASPE. The dividend revenue represents dividends received from taxable Canadian

corporations.

Swifty's income tax rate is $30\%.$

On January $1,2023,$ Swifty had a future tax liability of $$2,820$ related to its property, plant and equipment $($PPE$).$

During the year, warranty expense of $$4,000$ was accrued. One half of this amount was paid during $2023.$ This is the first year

Swifty offers warranties on services rendered.

Property, plant, and equipment was purchased for $$94,000$ on January $1,2022.$ These assets are being depreciated on a

straight$-$line basis over five years with no residual value and have a $20\%$ CCA rate. This PPE is considered "eligible equipment"

for purposes of the Accelerated Investment Incentive $($AII$)($under the All, instead of using the half$-$year rule, companies are

allowed a first$-$year deduction using $1\mathrm{.}5$ times the standard CCA rate$).$

On July $1,$ Swifty was sued by a competitor. Although the lawsuit has not been finalized, management believes that it is likely

that a settlement will be reached in the next year for $$8,200.$ This amount has been accrued in the financial statements.

On November $30,$$$3,600$ cash was paid in advance for four months of advertising, starting Dec. $1.$

$1.$Calculate Permanent Differences

$2.$Calculate Temporary Differences

$3.$Calculate Taxable Income

$4.$Calculate Deferred Tax Asset$/$Liability