Use the following information for questions.
At the beginning of 2010; Elephant, Inc.had a deferred tax asset of $4,000 and a deferred tax liability of $6,000.Pre-tax accounting income for 2010 was $300,000 and the enacted tax rate is 40%.The following items are included in Elephant's pre-tax income:

-Which of the following is required to adjust Elephant, Inc.'s deferred tax asset to its correct balance at December 31, 2010?

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Use the following information for questions.
At the beginning of 2010; Elephant, Inc.had a deferred tax asset of $4,000 and a deferred tax liability of $6,000.Pre-tax accounting income for 2010 was $300,000 and the enacted tax rate is 40%.The following items are included in Elephant's pre-tax income:
 
-Which of the following is required to adjust Elephant, Inc.'s deferred tax asset to its correct balance at December 31, 2010?

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The Answer of Use the following information for questions.
At the beginning of 2010; Elephant, Inc.had a deferred tax asset of $4,000 and a deferred tax liability of $6,000.Pre-tax accounting income for 2010 was $300,000 and the enacted tax rate is 40%.The following items are included in Elephant's pre-tax income:
 
-Which of the following is required to adjust Elephant, Inc.'s deferred tax asset to its correct balance at December 31, 2010?

Use the Following Information for Questions