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company has $70 million of temporary differences due to excess depreciation for tax purposes, $9.80...

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Accounting

company has $70 million of temporary differences due to excess depreciation for tax purposes, $9.80 million of which will reverse in 2026.
e enacted tax rate for all years is 20%, and the company pays taxes of $44.80 million on $224.00 million of taxable income in 2025. McDowell expects to have taxable income in 2026.
Determine the deferred taxes to be reported at the end of 2025.(Enter amounts in millions rounded to 2 decimal places, e.g 15.75.)
Deferred taxassets $$ million
Deferred tax liabilities $, million
c) financial income)(Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g.(45).)
BRIAN MCDOWELL CO. Income Statement (Partial)
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