If Taxable Income Is $220 000, Accounting Profit Is $200

True/False

If taxable income is $220 000, accounting profit is $200 000, interest payable is $20 000, interest is recognised for tax when paid and the tax rate is 30%, then we know that tax payable is $66 000, tax expense is $60 000 and a deferred tax asset of $6000 will be recorded in the balance sheet.