For Calendar 2020, Its First Year of Operations, Lion Ltd

For calendar 2020, its first year of operations, Lion Ltd. reported pre-tax accounting income of $ 100,000. Lion uses CCA for tax purposes and straight-line depreciation for financial reporting. The differences between depreciation and CCA over the five-year life of their assets, and the enacted tax rates for 2020 to 2024 are as follows: $$\begin{array}{l}\begin{array} { c c c } &\text { Depreciation }\\& \text { Over (Under) CCA } & \text { Tax Rates } \\2020 & \$ ( 20,000 ) & 35 \% \\2021 & ( 26,000 ) & 30 \% \\2022 & ( 6,000 ) & 30 \% \\2023 & 24,000 & 30 \% \\2024 & 28,000 & 30 \%\end{array}\end{array}$$ There are no other reversible differences. On Lion's December 31, 2020 SFP, the deferred tax liability and the current income taxes payable should be Deferred Current Income $\begin{array}{lcc} & \text { \underline{\text{ Tax Liability }} } & \text { \underline{\text{ Taxes Payable }} } \\\text { A) } & \$ 7,000 & \$ 28,000 \\\text { B) } & \$ 15,600 & \$ 28,000 \\\text { C } & \$ 6,000 & \$ 28,000 \\\text { D) } & \$ 6,000 & \$ 24,000\end{array}$