Quinn Co. reported a net deferred tax asset of $9,000 in its
December 31, year 1 balance sheet. For year 2, Quinn reported
pretax financial statement income of $300,000. Temporary differences
of $100,000 resulted in taxable income of $200,000 for
year 2. At December 31, year 2, Quinn had cumulative taxable
differences of $70,000. Quinn’s effective income tax rate is 30%. In its December 31, year 2, income statement, what should
Quinn report as deferred income tax expense?