On June 30, 20X4, Ank Corp. pre-paid a $19,000 premium on an annual insurance policy. The premium payment was a tax-deductible expense in Ank's 20X4 cash-basis tax return. The accrual-basis income statement will report a $9,500 insurance expense in 20X4 and 20X5. Ank elected early application of FASB Statement No. 109, Accounting for Income Taxes. Ank's income tax rate is 30% in 20X4 and 25% thereafter. In Ank's December 31, 20X4 balance sheet, what amount related to the insurance should be reported as a deferred income tax liability

Financial performance is measured in many ways. requirements 1. explain the difference between lag and lead indicators. 2. the following is a list of financial measures. indicate whether each is a lag or lead indicator: a. income statement shows net income of $100,000 b. listing of next week's orders of $50,000 c. trend showing that average hits on the redesigned website are increasing at 5% per week d. price sheet from vendor reflecting that cost per pound of sugar for the next month is $2 e. contract signed last month with large retail store that guarantees a minimum shelf space for grandpa's overloaded chocolate cookies for the next year