help asp!

Your book talks about a 4-step process in determining the income tax expense. Required: List the steps and briefly describe what happens in each step. Please be sure to complete both requirements to receive full credit. Your Answer: 1. Determine pre tax income and permanent differences and subtract them from pre tax income 2. multiply income remaining by tax rate 3. subtract/add temporary differences from income to determine taxable income 4. multiply taxable income by tax rate and then add/subtract deferred asset liability/asset to tax payable to get net income tax expense