At December 31 2012 Vermont Industries reported three temporary differences betw

At December 31 2012 Vermont Industries reported three temporary differences between accounting andtaxable income: Vermont had $25000 of future deductible amounts resulting from accrued warranty liabilities. Vermont offers customers a one year warranty on its products. Vermont had $55000 in future taxable amounts associated with depreciation on property and equipment and $15000 in future taxable amounts associated withprepaid expensesthat expire in 2013. No temporary differences existed at December 31 2011. Theincome tax rateis 40%. Vermont would report the following amounts related to deferred taxes on its year end December 31 2012 balance sheet