Marty’s Wholesaling Co. opened its doors on Jan. 15, 2012. At the end of 2012 the following was provided for the senior accountant.

At the end of 2012 the following was provided for the senior accountant. Pretax financial incomeEstimated lawsuit settlement expenseInstallment salesTaxable incomeTherefore $600,000 as current and $600,000 as noncurrent. Deferred tax liability – current to be recognized is (Points : 5) $30,000.$330,000.$60,000.$120,000.

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