LO.2 Kantner, Inc., is a domestic corporation with the following balance sheet for book and tax purposes at the end of the year. Based on this information, determine Kantner's net deferred tax asset or net deferred tax liability at year-end. Assume a 21% Federal corporate tax rate and no valuation allowance. Debit/Credit) Book Debit/(Credit) Assets Cash Accounts receivable Buildings Accumulated depreciation Furniture & fixtures $ 1,000 9,000 850,000 (700,000) 40,000 Accumulated depreciation Total assets (10,000) $190,000 Liabilities Accrued warranty expense Note payable $ -0- (16,000) Total liabilities ($ 16,000) Stockholders' Equity Paid-in capital Retained earnings ($ 50,000) (124,000) Total liabilities and stockholders' equity ($190,000) $ 1,000 9,000 850,000 (620,000) 40,000 (8,000) $272,000 ($ 40,000) (16,000) ($ 56,000) ($ 50,000) (166,000) ($272,000)