Question: Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences ($ in thousands) Taxable income

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

Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences ($ in thousands) Taxable income future deductible amounts Future taxable amounts Balance(s) at begiming of the year Deferred tax asset Deferred tax liability Situation 1 2 4 $140 5272 $308 $428 16 20 20 16 16 84 23 4 8 2 The enacted tax rate is 25% Required: For each situation, determine the following: (Enter your answers in thousands rounded to one decimal place (i.e. 1,200 should be entered as 1.2). Negative amounts should be indicated by a minus sign. Leave no cell blank, enter "O" wherever applicable.) Income tax payable curently Deferred tax assel-ending balance Deferred tax asset-change Deferred tax ability-ending balance Deferred tax ability-change Income tax expense Situation

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