the beginning of $2019$Company had a deferred tax liability of because of the use of MACRS depreciation for income tax purposes and units$-$of$-$production depreciation for financial reportingThe income tax rate is $30\%$ for $2018$ and $2019,$ but in $2018$ Congress enacted a $40\%$ tax rate for $2020$ and future years Norris's accounting records show the following pretax items of financial income for $2019$: income from continuing operations$120,000($revenues of $$352,000$ and expenses $$232\mathrm{.}000)$gain on disposal of Division F$$23,000$loss from operations of discontinued Division F$$10,000$and prior period adjustment, $$15,000,$ due to an error that understated revenue in $2018.$ All of these items are taxable; however, financial depreciation for $2019$ on assets related to continuing operations exceeds tax depreciation by had a retained eamings balance of $$161,000$ on January $2018,$ and declared and paid cash dividends of $$32,0002019$