Times-Roman Publishing Company reports the following amounts in his first three years of operation: ($ in 000s) 2018. 2019. 2020 pretax acct inc. $200. $180. $170 taxable income. 220. 190. 180

the difference between pre-tax accounting income and taxable income is due to subscription revenue for one year magazine subscriptions being reported for tax purposes in the year received, but reported in the income statement in later years when the performance obligation is satisfied. The income tax rate is 40% each year. Times- Roman anticipates profitable operations in the future.

1. what is the balance sheet account for Wichita temporary difference is created by this situation?

2. for each year, indicate the cumulative amount of the temporary difference at year end.

3. determine the balance in the related deferred tax account at the end of each year. Is it a deferred tax asset or deferred tax liability?