Suppose that,in 2017,legislation revised the income tax rates so that Isaac would be taxed in 2018 and beyond at 40%,rather than 30%.Assume that there were no other differences in income for financial statement and tax purposes.Ignoring operating expenses and additional sales in 2017,what deferred tax liability would Isaac report in its year-end 2017 balance sheet?

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The Answer of Suppose that,in 2017,legislation revised the income tax rates so that Isaac would be taxed in 2018 and beyond at 40%,rather than 30%.Assume that there were no other differences in income for financial statement and tax purposes.Ignoring operating expenses and additional sales in 2017,what deferred tax liability would Isaac report in its year-end 2017 balance sheet?

Suppose That,in 2017,legislation Revised the Income Tax Rates So That