At December 31, DePaul Corporation had a $34 million balance in its deferred tax asset account and a $180 million balance in its deferred tax liability account.
The balances were due to the following cumulative temporary differences:
a. Estimated warranty expense, $25 million: expense recorded in the year of the sale; tax-deductible when paid (one-year warranty).
b. Depreciation expense, $300 million: straight-line in the income statement; MACRS on the tax return.
c. Income from installment sales of properties, $150 million: income recorded in the year of the sale; taxable when received equally over the next five years.
d. Rent revenue collected in advance, $60 million; taxable in the year collected; recorded as income when the performance obligation is satisfied in the following year.
Required:
1. Assuming DePaul will show a single noncurrent net amount in its December 31 balance sheet, indicate that amount and whether it is a net deferred tax asset or liability. The tax rate is 40%.
2. Determine the deferred tax amounts to be reported in the December 31 balance sheet. The tax rate is 40%. (Enter your answers in millions.)

This problem has been solved! see the answercompute and interpret altman's z-scoresfollowing is selected financial information for ebay, for its fiscal years 2005 and 2006.(in millions, except per share data) 2006 2005current assets $ 4,970.59 $ 3,183.24current liabilities 2,518.39 1,484.93total assets 13,494.01 11,788.99total liabilities 2,589.38 1,741.00shares outstanding 1,368.51 1,404.18retained earnings 4,538.35 2,819.64stock price per share 30.07 43.22sales 5,969.74 4,552.40earnings before interest and taxes 1,439.77 1,445.18compute and interpret altman z-scores for the company for both years. (do not round until your final answer; then round your answers to two decimal places.)2006 z-score = answer2005 z-score = answerwhich of the following best describes the company's likelihood to go bankrupt given the z-score in 2006 compared to 2007.the z-score in 2006 is half of the 2005 score. both z-scores are well above the score that represents a healthy company. the z-score in 2006 is double the 2005 score. the z-score has increased sharply, which suggests the company has greatly increased the risk of bankruptcy. the z-score in 2006 is half of the 2005 score. the z-score has decreased sharply, which suggests the company is in financial distress. the z-score in 2006 is double the 2005 score. the z-score has increased sharply, which suggests the company has greatly lowered the risk of bankruptcy.