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The following facts relate to Pina Corporation.

1.		Deferred tax liability, January 1, 2017, $48,400.
2.		Deferred tax asset, January 1, 2017, $0.
3.		Taxable income for 2017, $114,950.
4.		Pretax financial income for 2017, $242,000.
5.		Cumulative temporary difference at December 31, 2017, giving rise to future taxable amounts, $290,400.
6.		Cumulative temporary difference at December 31, 2017, giving rise to future deductible amounts, $42,350.
7.		Tax rate for all years, 40%.
8.		The company is expected to operate profitably in the future.

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1)Income tax payable for 2017 =Taxable income * Tax rate

= 114950*.40

= $ 45980

Cummulative temporary difference due to future taxable amount at 12/3/2017	290400
Less:Cummulative temporary difference due to future taxable amount at 1/1/2017 [48400 deferred tax liability at beginning /.40 tax rate]	(121000)
cummulative temporary difference originating in 2017	169400