Complete the Form 4562 using the following information provided.     Himple Retail Fixed Asset Rollforward 12/31/2019 (book basis)     DEPR   COST   2017 2018 2019   ACCUM   NET BOOK ASSET IN SERVICE METHOD LIFE BASIS DEPR DEPR DEPR DEPR VALUE CASH REGISTER 2/15/2017 SL 5 9,900.00 1,815.00 1,980.00 1,980.00 5,775.00 4,125.00 2017 TOTAL ADDITIONS       9,900.00 1,815.00 1,980.00 1,980.00 5,775.00 4,125.00 RETAIL FIXTURES 10/12/2018 SL 7 4,750.00   169.64 678.57 848.21 3,901.79 FURNITURE 10/12/2018 SL 7 3,900.00   139.29 557.14 696.43 3,203.57 2018 TOTAL ADDITIONS       8,650.00 - 308.93 1,235.71 1,544.64 7,105.36 TOTAL       18,550.00 1,815.00 2,288.93 3,215.71 7,319.64 11,230.36 DELIVERY TRUCK 6/1/2019 SL 5 37,500.00     4,375.00 4,375.00 33,125.00 DESK AND CABINETRY 6/1/2019 SL 7 11,900.00     991.67 991.67 10,908.33 COMPUTER 6/1/2019 SL 5 2,800.00     326.67 326.67 2,473.33 2019 TOTAL ADDITIONS       52,200.00 - - 5,693.34 5,693.34 46,506.66 TOTAL

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Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.