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Sancious Corp. reports $800,000 of deferred tax liabilities on its balance sheet at December 31,...

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Accounting

Sancious Corp. reports $800,000 of deferred tax liabilities on its balance sheet at December 31, 2020, and $720,000 at December 31, 2021. On its 2021 income statement, Sancious reports total income tax expense of $1,100,000.

Sancious will pay ________ in taxes on its 2021 taxable income.

a more than $1,100,000

b $1,100,000

c less than $1,100,000

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