Plantation Ltd Statement of Financial Position as at 30 June 2023 Plantation Ltd commenced business on 1 July 2022 with share capital of $562000. The company purchased some non-current assets on that date. The details of the non-current asset purchases are as follows: The statement of comprehensive income and statement of financial position for Plantation Ltd at year end were as follows: Required-Calculation Questions 1. Calculate the current tax liability for the year ended 30 June 2023. 2. Complete a worksheet showing the deferred tax balances for the year ended 30 June 2023. 3. Complete the relevant general journal entries to record deferred tax assets and liabilities at 30 June 2023. 4. Prepare an extract from the statement of comprehensive income showing profit before tax, income tax expense and profit after tax for the year ended 30 June 2023. Prepare an extract from the statement of financial position showing any income tax assets and liabilities at 30 June 2023. 5. Tax rate is 30%. Written Questions 6. Are all differences that exist at the end of the reporting period between the carrying amount and tax bases of assets and liabilities recognised as part of deferred tax assets or deferred tax liabilities? Explain. 7. Despite the fact that deferred tax liabilities and assets are recognised in respect of certain assets and liabilities, the income tax expense (or revenue) of such items is always recognised in the current year. Discuss if this statement is true and provide reasons for your choice