Grouper Corporation began operations in 2020 and reported pretax financial income of $218,000 for the year. Groupers tax depreciation exceeds its book depreciation by $40,000. Groupers tax rate for 2020 and years thereafter is 30%. In its December 31, 2020, balance sheet, what amount of deferred tax liability should be reported

$12,000

Explanation:

Calculation for the amount of deferred tax liability should be reported

Using this formula

Deferred tax liability =Groupers tax depreciation ×Groupers tax rate

Let plug in the formula

Deferred tax liability =$40,000×30%

Deferred tax liability=$12,000

Therefore the amount of deferred tax liability should be reported will be $12,000

b, fewer problems later! good luck

(75years ,i believe is the correct answer.good luck