Question : Based on the facts and results of
Based on the facts and results of Problem 30 and the beginning-of-the year book-tax basis differences listed below, determine the change in Relix's deferred tax assets for the current year.
Data from Problem 30: Relix, Inc., is a domestic corporation with the following balance sheet for book and tax purposes at the end of the year. Based on this information, determine Relix's net deferred tax asset or net deferred tax liability at year-end. Assume a 21% Federal corporate tax rate and no valuation allowance.