Example: Analyzing and Interpreting Test Snapchat Inc reports total tax expense of 12,547 ended December 31, 2018, and paid h of $3,958 (16-43) d on its income state year and he taxes and doc payable by $755 thousand. The tax foots in the company's 10-K Gling reports following deferred texts and babies in The domestic and foreign components of pre-taxes were as follows Year Ended December 31 in thousands 2017 2018 Domestic Foreign Loss before income taxes Sc699222) $3.02750) 283442 153528 $1251360 $0.463.40 The significant components of net deemed tax balances were as follows Year Ended December 31 n thousands Deferred tax assets Accrued expenses Deferred revenue Intangible assets Stock-based compensation Net operating losses Tax credit carryforwards Property and equipment Other Total deferred tax assets Deferred tax liabilities Property and equipment 2017 2016 $10,534 $21,056 2142 976 140771 140,494 396.604 254 255 Total deferred tax liabilities Total net deferred tax assets before valuation allowance Valuation allowance Net deferred taxes 473,110 124,078 849 224 235,300 203 2015 322 $1,149,254 $1,501,830 5.883 (5.883) 1,143,371 1,501,830 (1.144.543) (1.502.346 $(1,172) $(516) a. Snapchat's gross deferred tax assets increased during 2018. What two items explain the majority of the increase? ddded as an Explain how this liability arose Why does the compan da vi alle Given the size of the 2018 allowance, what is the company's expect of future pretex income d. Explain how the valuation allowance affected 2018 net incom e. Use the financial statement effects template to second income tax expeme for fiscal year 2018 along with the changes in both defened tax assets and liabilities and the valuation allowance Call Ast TE 2.M Libe Expan NO DITA 35% DTL 330 Deld Defiend The THE -3,950 As Laisty Ca 3,950 AR33 STADS Station Ala Ten Postle +230 T +2347 The plug (75) is to us payable, as indicated in the