Question: Eight independent situations are described below. Each involves future deductible amounts and/or future taxable amounts: ($ in millions) Temporary Differences Reported First on: The Income

Eight independent situations are described below. Each involves future deductible amounts and/or future taxable amounts:

($ in millions)
Temporary Differences Reported First on:
The Income Statement The Tax Return
Revenue Expense Revenue Expense
1. $31
2. $31
3. $31
4. $31
5. 26 31
6. 31 26
7. 26 31 21
8. 26 31 16 21

Required: For each situation, determine taxable income assuming pretax accounting income is $210 million. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

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