Four independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences: ($ in thousands)
Situation
1 2 3 4
Taxable income $84 $216 $196 $260
Future deductible amounts 16 20 20
Future taxable amounts 16 16 28
Balance(s) at beginning of the year:
Deferred tax asset 2 9 4
Deferred tax liability 8 2

The enacted tax rate is 25%.

Required:

For each situation, determine the following:

Situation
1 2 3 4
a. Income tax payable
b. Deferred tax asset - balance
c. Deferred tax asset - change
d. Deferred tax liability - balance
e. Deferred tax liability - change
f. Income tax expense