Ward Limited, a private company, purchased equipment for $180,000 on January 2 , 2020, its first day of operations. Ward intends to use ASPE standards. For accounting purposes, the equipment will be depreciated straight-line over three years with no residual value. For tax purposes, the equipment has a CCA rate of 40% and is eligible for the Accelerated Investment Incentive. The Accelerated Investment Incentive permits deduction of 1.5 times the full CCA rate (i.e. no half-year rule needs to be applied) in 2020. In 2021 and subsequent years, CCA at 40% will be taken. Note that under Canadian tax law Ward will continue to deduct CCA after the end of an assets' useful life. Pre-tax accounting incomes and taxable incomes are as follows: The difference between pre-tax accounting income and taxable income in the years is due solely to the use of CCA for tax purposes. There are no permanent timing differences in any of the years. Ward Limited uses the future tax method to account for its income taxes. Instructions a) Calculate Current Tax Expense for 2020, 2021 and 2022 b) Calculate Ward's future tax balance at December 312020,2021 \& 2022. c) Prepare the journal entries to record the Ward's taxes for 2020 and 2021 d) How would the future tax balance be classified on Ward's balance sheet. Briefly explain why. e) Would your answer be the same if Ward was a publicly accountable company reporting under IFRS? If it would change, how would Ward report the balance