The following facts relate to Headland Corporation. Deferred tax liability, January 1, 2020, $42,000. Deferred tax asset, January 1, 2020, 50. Taxable income for 2020, $99,750. Pretax financial income for 2020, $105,000. 1. 2. 3. 4. 5. 6. 7. 8. Cumulative temporary difference at December 31, 2020, giving rise to future taxable amounts, $252,000. Cumulative temporary difference at December 31, 2020, giving rise to future deductible amounts, $36,750. Tax rate for all years, 20%. The company is expected to operate profitably in the future. (a) Compute income taxes payable for 2020. Income taxes payable $ (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above.