you have the following information related to 2019: * Depreciation recognized for tax purposes exceeded the expenses recognized for book purposes by 60,000 * The company received 70,000$ for rental in advance which are taxable in 2019 and will be reported for book purposes in 2020 * Taxable income for 2019 is 400,000 * Tax rate enacted for all years is 40% * The company is expected to generate profit in the upcoming years. * The company had no beginning DTA or DTL Required :

1. How much is the Financial income (pretax income) for 2019?

2.How much is the income tax expenses that will be recorded in the journal entry

3.Is DTA originated or reversed (your answer must be one word only, originated or reversed)

4.Is DTL originated or reversed (your answer must be one word only, originated or reversed)

5. In the journal entry, the DTA will be in the Debit or Credit side (your answer must be one word only, Debit or Credit)

6. In the journal entry, the DTL will be in the Debit or Credit side (your answer must be one word only, Debit or Credit)

7. How much is the value of DTA in the journal entry