Pre-tax book income and tax rates for Ocean Company’s first…
Pre-tax book income and tax rates for Ocean Company’s first two years of operations were as follows:Pre-tax Book IncomeTax Rate2021($1,070,000)20%2022$1,750,00030%If Ocean Company opts to carry forward its 2021 net operating losses (NOL), what is the amount of deferred tax asset that they should report on the December 31, 2021, balance sheet?