Question: Using the facts of Problem 12, determine the 2016 end-of-year balance in Mini's deferred tax asset and deferred tax liability balance sheet accounts. Mini, Inc.,

Using the facts of Problem 12, determine the 2016 end-of-year balance in Mini's deferred tax asset and deferred tax liability balance sheet accounts.
Mini, Inc., earns pretax book net income of $750,000 in 2016. Mini deducted $20,000 in bad debt expense for book purposes. This expense is not yet deductible for tax purposes. Mini records no other temporary or permanent differences. Assuming that the pertinent U.S. tax rate is 35%, compute Mini's total income tax expense, current income tax expense, and deferred income tax expense.

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