Zdon Inc. reports accounting income of $$105,000$ for $2023,$ its first year of operations. The following items cause taxable income to be different than income reported on the financial statements.

Capital cost allowance $($on the tax return$)$ is greater than depreciation on the income statement by $$16,000.$

Rent revenue reported on the tax return is $$24,000$ higher than rent revenue reported on the income statement.

Non$-$deductible fines appear as an expense of $$15,000$ on the income statement.

Zdon$$s tax rate is $30\%$ for all years and the company expects to report taxable income in all future years. Zdon reports under IFRS.

Instructions

Calculate taxable income and income tax payable for $2023.$

Calculate any deferred tax balances at December $31,2023.$

Prepare the journal entries to record income taxes for $2023.$

Provide the SFP presentation for any resulting deferred tax accounts at December $31,2023.$ Be specific about the classification.