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

SITUATION$12$Taxable income$ $33,000$$ $73,000$Amounts at year$-$end:$$Future deductible amounts$4,30011,700$Future taxable amounts$04,300$Balances at beginning of year, debit $($credit$)$:$$Deferred tax asset$ $1,000$$ $4,095$Deferred tax liability$01,000$

The enacted tax rate is $35\%$ for both situations.

Required:

For each situation determine the following:

$($a$)$ Income tax payable currently.$($b$)$ Deferred tax asset $-$ balance at year$-$end.$($c$)$ Deferred tax asset change debit or $($credit$)$ for the year.$($d$)$ Deferred tax liability $-$ balance at year$-$end.$($e$)$ Deferred tax liability change debit or $($credit$)$ for the year.$($f$)$ Income tax expense for the year.