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Thompson Industries 2016 income statement had pretax financial income of $250,000. Thompson uses an accelerated cost recovery method on its tax return and straight-line depreciation

Thompson Industries 2016 income statement had pretax financial income of $250,000. Thompson uses an accelerated cost recovery method on its tax return and straight-line depreciation for financial reporting. The differences between the book and tax deductions for depreciation over the five-year life of the assets acquired in 2016 and the enacted tax rates for 2016 to 2020 are as follows: Book Over (Under) Tax Tax Rates 2016 $(50,000) 35% 2017 (65,000) 30% 2018 (15,000) 30% 2019 60,000 30% 2020 70,000 30% What will Thompson report as noncurrent deferred income tax liability and income taxes currently payable on their December 31, 2016 balance sheet?

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