UML Foods reported $940 million in income before income taxes for 2020, its first year of operations. Tax depreciation exceeded depreciation for financial reporting purposes by $120 million. The company also had non-tax-deductible expenses of $80 million relating to permanent differences. The income tax rate for 2020 was 35%, but the enacted rate for years after 2020 is 30%. The balance in the deferred tax liability in the December 31, 2020, balance sheet is:

Who is not spending wisely? erika goes shopping and saves her receipts. she totals how much she spent and writes it down. mia needs to buy a new pair of shoes because she joined the soccer team. she looks at newspaper ads to find the best price. lauren has been thinking about getting a puppy for a long time. she walks by the pet store at the mall and decides to get a puppy. erin makes a purchase online using a credit card. she knows that she can pay the entire bill when it arrives.