Tem Technology has a first-quarter operating loss of $100,000 and expects the following income for the other three quarters:

Second quarter .......$ 80,000

Third quarter......... 160,000

Fourth quarter ........ 400,000

Tem estimated the effective annual tax rate at 40 percent at the end of the first quarter and changed it to 45 percent at the end of the third quarter. The company has a normal seasonal pattern of losses in the first quarter and income in the other quarters.

Required

Prepare a schedule computing the tax obligations or benefits that should be shown on the interimstatements.