Homework Saved Help savet Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences Taxable income Puture deductible amounts Future taxable amounts Balance(s) at beginning of the year Deferred tax asset Deferred tax liability (5 in thousanda) situation 2 $140 $272 $308 $428 16 20 20 16 16 84 2 23 2 The enacted tax rate is 25% Required: For each situation, determine the following: (Enter your answers in thousands rounded to one decimal place (.e. 1,200 should be entered as 1.2). Negative amounts should be indicated by a minus sign. Leave no cell blank, enter"0" wherever applicable) Situation 2 a. Income tax payable currently b. Deferred tax assel-ending balance c. Deferred tax asset-change. d. Deferred tax liability-ending balance .. Deferred tax liability-chance Next > 8 of 17 18