For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: Tringali's tax rate is 40%. What should Tringali report as its deferred income tax liability as of the end of its first year of operations?

Question

For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows:  Tringali's tax rate is 40%. What should Tringali report as its deferred income tax liability as of the end of its first year of operations?

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The Answer of For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows:  Tringali's tax rate is 40%. What should Tringali report as its deferred income tax liability as of the end of its first year of operations?

For Its First Year of Operations, Tringali Corporation's Reconciliation of Pretax