Luck co.'s income statement for its first year of operations shows pretax income of $4,500,000. in addition, the following differences existed between luck's tax return and records:
tax return accounting records
warranty expense $100,000 $220,000
depreciation expense 300,000 150,000
luck's current‐year tax rate is 30%, and the enacted rate for future years is 25%.
what should luck report as deferred tax consequences in its balance sheet for the year?