In the red bars for each year we have the following

Year 2012 Net deferred tax asset(liab): -1,967,000

Year 2013: Net deferred tax asset (liab): 115,000

Year 2014: Net deferred tax asset (liab): -365,000

Year 2015:Net deferred tax asset (Liab) 1,368,000

Year 2016: Net deferred tax asset(Liab): 4,091,000

Year 2017:Net deferred tax asset (Liab): 4,628,000

Year 2018: Net deferred tax asset(Liab): 2,876,000

Year 2019: Net deferred tax asset(Liab): 2,884,000

Year 2020: Net deferred tax asset (Liab): 2,648,000

Year 2021:Net deferred tax asset(Liab): 2,279,000

In the yellow bar are the following;

Year 2012: Net Income 12,561,424

Year 2013: Net Income: 13,131,952

Year 2014: Net Income 15,092,176

Year 2015: Net Income 14,898,760

Year 2016: Net Income 16,052,544

Year 2017:Net Income 14,720,400

year 2018: Net Income 15,081,000

Year 2019: Net Income 19,095,000

Year 2020: Net Income 23,098,000

Year 2021:Net Income 18,411,000

 

Transcribed Image Text:

The new CEO of Efficacious, Inc. is trying to familiarize herself with the company's financials and has asked you to explain the seemingly erratic pattern of income tax rates and deferred taxes. As CFO, you enlist the assistance of a member of your staff to create a Tableau Dashboard depicting trends in tax expense, tax rates, and deferred taxes for the most recent ten years. You plan to use the Dashboard to help the CEO visualize your explanation. Deferred Income Taxes Deferred Income Tax Assets & Liabilities 6M 5M 4M 3M 2M IM OM -IM -2M Deferred income tax assets Deferred income tax liabilities Net deferred tax asset (liab.) НН 7M 6M 5M 4M 3M 2M IM OM -IM -2M Net deferred tax asset (liab.) The new CEO of Efficacious, Inc. is trying to familiarize herself with the company's financials and has asked you to explain the seemingly erratic pattern of income tax rates and deferred taxes. As CFO, you enlist the assistance of a member of your staff to create a Tableau Dashboard depicting trends in tax expense, tax rates, and deferred taxes for the most recent ten years. You plan to use the Dashboard to help the CEO visualize your explanation. Deferred Income Taxes Deferred Income Tax Assets & Liabilities 6M 5M 4M 3M 2M IM OM -IM -2M Deferred income tax assets Deferred income tax liabilities Net deferred tax asset (liab.) НН 7M 6M 5M 4M 3M 2M IM OM -IM -2M Net deferred tax asset (liab.)

Answer rating: 100% (QA)

SOLUTION To explain the seemingly erratic pattern of income tax rates and deferred taxes we need to understand the concept of deferred taxes Deferred taxes arise when there is a difference between the ... View the full answer