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The following facts relate to Whispering Corporation. Deferred tax liability, January 1, 2020, $33,300. 1. Deferred tax asset, January 1, 2020, $11,100. 2. 3. Taxable
The following facts relate to Whispering Corporation. Deferred tax liability, January 1, 2020, $33,300. 1. Deferred tax asset, January 1, 2020, $11,100. 2. 3. Taxable income for 2020, $116,550. 4. Cumulative temporary difference at December 31, 2020, giving rise to future taxable amounts, $255,300. 5. Cumulative temporary difference at December 31, 2020, giving rise to future deductible amounts, $105,450. Tax rate for all years, 20%. No permanent differences exist. 6. 7. The company is expected to operate profitably in the future. (a) Your answer is incorrect. Compute the amount of pretax financial income for 2020. $ Pretax financial income 23,310
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