Two a) On 1" January 2017, Xenon Inc., a company that manufactures electrical appliances made a significant acquisition of a machine at a cost of 300,000. This machine was expected to have a useful life of 8 years and it was to be depreciated using the straight line method at a rate of 20 %p.a. The expected residual value was 8,000. The company made a claim for capital allowances in regard to this machine from the revenue authority and this has been provided in the table below. Year Profits Before Depreciation and Capital Allowances == 31" December Tax 2018 50,500 100,000 2019 70,000 55,000 2020 80,000 34,000 2021 100,000 20,000 2022 125,000 13,000 The deferred tax account had a debit balance (i.e. deferred tax asset) of 14,000 on 1 January 2018. The corporation tax was 30% Required: Prepare the following statements for Xenon Inc.. i. Statement of Increase/ decrease in deferred tax (or a deferred tax account) for the years 2018 to 2022: ii. Extracts of the Financial Statements of Xenon Inc., for the years 2018 to 2022