intermediate acc ii 335

Pina Corporation has one temporary difference at the end of 2020 that will reverse and cause taxable amounts of $50,400 in 2021 . $55,900 in 2022, and $61,100 in 2023 . Pina's pretax financial income for 2020 is $311,400, and the tax rate is 30% for all years. There are no deferred taxes at the beginning of 2020. (a) Compute taxable income and income taxes payable for 2020 Taxable income Income taxes payable