Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produc- by temporary differences: ($ in thousands) Situation 1 2 3 4 Taxable income $141 $327 $335 $428 Future deductible amounts 29 34 34 Future taxable amounts 29 29 58 Balance (s) at beginning of the year: Deferred tax asset 4,8 23 9.6 Deferred tax liability 4.8 4.8 The enacted tax rate is 40 % Required: For each situation, determine the following: (Enter your answers In thousands rounded to one declmal place (I.e. 1,200 should entered as 1.2). Negative amounts should be Indicated by a minus sign. Leave no cell blank, enter "O" wherever applicable.) Situation 2 3 4 a. Income tax payable currently b. Deferred tax asset-balance. c. Deferred tax asset-change d. Deferred tax liability-balance. e. Deferred tax liability-change f.Income tax expense