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The accounting income of Cullumber Corporation and its taxable income for the years 2023 to...

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Accounting

The accounting income of Cullumber Corporation and its taxable income for the years 2023 to 2026 are as follows:
The change in the tax rate from 25% to 30% was not enacted until early in 2024.
Accounting income for each year includes an expense of $41,000 that will never be deductible for tax purposes. The
remainder of the difference between accounting income and taxable income in each period is due to one reversing
difference for the depreciation of property, plant, and equipment. No deferred taxes existed at the beginning of 2023.
(a)
Calculate the current and deferred tax expense or benefit for each of the four years. Also calculate the balance of
the deferred tax balance sheet account at the end of each fiscal year from 2023 to 2026.(Show asset and
benefit numbers as positive, and liability and expense numbers as negative.)
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