The following facts relate to Shamrock Corporation. 1. Deferred tax liability, January 1,2020,$45,600, 2. Deferred...
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The following facts relate to Shamrock Corporation. 1. Deferred tax liability, January 1,2020,$45,600, 2. Deferred tax asset, January 1, 2020,\$0. 3. Taxable income for 2020,$108,300. 4. Pretax financial income for 2020,$114,000. 5. Cumulative temporary difference at December 31,2020 , giving rise to future taxable amounts, $273,600. 6. Cumulative temporary difference at December 31,2020 , giving rise to future deductible amounts, $39,900. 7. Tax rate for all years, 20%. 8. The company is expected to operate profitably in the future
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