Exercise $16-10($Algo$)$ Calculate income tax amounts under various circumstances; financial statement effects $[$LO$16-2,16-3]$

Four independent situations are described below. Each involves future deductible amounts and$/$or future taxable amounts produced by temporary differences:

$($$ in thousands$)$

Situation

$1234$

Taxable income $ $112$ $ $244$ $ $252$ $ $344$

Future deductible amounts $162020$

Future taxable amounts $161656$

Balance$($s$)$ at beginning of the year:

Deferred tax asset $2164$

Deferred tax liability $82$

The enacted tax rate is $25\%.$

Required:

For each situation, determine the following:

Note: Enter your answers in thousands rounded to one decimal place $($i$.$e$.1,200$ should be entered as $1\mathrm{.}2).$ Negative amounts should be indicated by a minus sign. Leave no cell blank, enter $"0"$ wherever applicable.Exercise $16-10($Algo$)$ Calculate income tax amounts under various circumstances; financial statement

effects $[$L$016-2,16-3]$

Four independent situations are described below. Each involves future deductible amounts and$/$or future taxable amounts produced

by temporary differences:

The enacted tax rate is $25\%.$

Required:

For each situation, determine the following:

Note: Enter your answers in thousands rounded to one decimal place $($i$.$e$.1,200$ should be entered as $1\mathrm{.}2).$ Negative amounts

should be indicated by a minus sign. Leave no cell blank, enter $"0"$ wherever applicable.