ences Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences (5 in thousands) Situation 2 Taxable income Future deductible amounts Future taxable amounts $156 $288 $340 $476 16 29 20 16 16 100 Balance(s) at beginning of the years Deferred tax asset 2 27 4 Deferred tax liability The enacted tax rate is 25% Required: For each situation, determine the following: (Enter your answers in thousands rounded to one decimal place (le. 1,200 should be entered es 1.2). Negative amounts should be Indicated by a minus sign. Leave no cell blank, enter "0" wherever applicable) Situation a income tax payable currently 1 $300 $ 2 720 S 4 350 S 1100 bDeferred tai asset-ending balance S 40 5 00 $ 5.0 1 50 eDeferred tax asset-change 20 S 005 20 $ 10 d. Deferred tax liability ending balance 00 $ 4.01 40 $250 e Deferred tax liability-change 3 00 $ (40) $ (40) 325.0 Income tax expense. 370 $ 68.05 25.0 Pray of 13 Next >