Giada Foods reported $940 million in income before income taxes for 2016,its first year of operations.Tax depreciation exceeded depreciation for financial reporting purposes by $100 million.The company also had non-tax-deductible expenses of $80 million relating to permanent differences.The income tax rate for 2016 was 35%,but the enacted rate for years after 2016 is 40%.The balance in the deferred tax liability in the December 31,2016,balance sheet is:

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The Answer of Giada Foods reported $940 million in income before income taxes for 2016,its first year of operations.Tax depreciation exceeded depreciation for financial reporting purposes by $100 million.The company also had non-tax-deductible expenses of $80 million relating to permanent differences.The income tax rate for 2016 was 35%,but the enacted rate for years after 2016 is 40%.The balance in the deferred tax liability in the December 31,2016,balance sheet is:

Giada Foods Reported $940 Million in Income Before Income Taxes