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

Situation numbers in thousands
	1			2			3			4
Taxable income	$	153		$	351		$	365			$464
Future deductible amounts		32						37			37
Future taxable amounts					32			32			64
Balance(s) at beginning of the year:
Deferred tax asset		5.4						26			10.8
Deferred tax liability					5.4			5.4

The enacted tax rate is 40%.

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).)

Year 1 Year 2 Year 3 Year 4

Income tax payble

Deferred tax assets- Balance

Deferred tax assets- Changes

Deferred tax Liabilitiess- Balance

Deferred tac Liabilities- Changes

Income tax Expense