Two independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences: SITUATION Taxable income Amounts at year-endi Future deductible amounts Future taxable amounts Balances at beginning of year, dr (cr): Deferred tax asset Deferred tax liability $ 47,000 $87,000 5,700 10,700 0 5,700 $1,000 $ 3,745 0 1,000 The enacted tax rate is 35% for both situations. Required: For each situation determine the: SITUATION 2 (a.) Income tax payable currently (6.) Deferred tax asset-balance at year-end. (c) Deferred tax asset change dr or (er) for the year. (d) Deferred tax liability - balance at year-end. (e.) Deferred tax liability change dr or (cr) for the year. (f.) Income tax expense for the year