Thorn co. applies asc topic 740, income taxes. at the end of year 1, the tax effects of temporary differences were as follows: accelerated tax depreciation resulting in deferred tax liability: $75,000 (related to noncurrent asset)additional inventory costs for tax purposes resulting in deferred tax asset: $25,000 (related to current asset)a valuation allowance was not considered necessary. thorn anticipates that $10,000 of the deferred tax liability will reverse in year 2. in thorn's december 31, year 1 balance sheet, what amount should thorn report as noncurrent deferred tax liability? a. $40,000b. $50,000c. $65,000d. $75,000

1. list five staple convenience goods that you or your household buys on a regular basis. (you do not need to use complete sentences. 2.5 points) 2. list three impulse convenience goods that you or someone you know has purchased. (you do not need to use complete sentences. 2.5 points) 3. describe a shopping good that you or someone you know purchased. what kind of research did you or that person do before buying the product? (1-5 sentences. 3.0 points) 4. choose an example of a company you could start, and decide which business structure would make the most sense for that type of company (sole proprietorship, partnership, llc, c corporation, s corporation, or nonprofit corporation). explain why this structure would be good for this type of company. give at least 3 reasons. (3-6 sentences. 6.0 points) 5. if you were starting a new business, describe at least three departments to the company that you would need right away. why are these departments so important? (1-5 sentences. 3.0 points) 6. describe a product that you think has saturated its market. what makes you think it has saturated its market? (1-5 sentences. 3.0 points)