INTER Enterprises had the following pretax income (loss) ove…

INTER Enterprises had the following pretax income (loss) over its first four years of operations:   2022             $   550,700               2023                1,000,000              2024               (3,025,000)  2025                8,790,000                There were no temporary or permanent differences in any year and the tax rate was 25%. No valuation account was deemed necessary for the deferred tax asset as of December 31, 2024.   INTER uses the carryforward method when calculating its taxes. What amount should INTER report as income tax payable in 2025?  

GAMING Corp. sells annual access to online games. During 202…

GAMING Corp. sells annual access to online games. During 2025, its first year of operations, GAMING collected $1,500,000 in cash from its subscribers for online gaming access. Of this total, $1,00,000 worth of access will not be made available by GAMING until 2026. GAMING’s enacted tax rate is 20% for 2025 and 25% for 2026.   In its December 31, 2025 balance sheet, what amount should GAMING report for deferred tax assets?