urrent Attempt in Progress The following facts relate to Cullumber Corporation. 1. Deferred tax liability, January 1, 2020, $47,200. 2. Deferred tax asset, January 1, 2020, $0. 3. Taxable income for 2020, $112,100. 4. Pretax financial income for 2020 $118,000. 5. 6. Cumulative temporary difference at December 31, 2020, giving rise to future deductible amounts, $41,300. Cumulative temporary difference at December 31, 2020, giving rise to future taxable amounts, $283,200. 7. Tax rate for all years, 20%. 8. The company is expected to operate profitably in the future.