Fabulous Creations
The assets section of the company's balance sheets for the years ended December 31, 2020 and 2019, is provided below.
-Refer to Fabulous Creations. Explain the impact on net income and cash flows of using straight-line depreciation for financial reporting and accelerated depreciation methods for income tax purposes.

Question

Fabulous Creations
The assets section of the company's balance sheets for the years ended December 31, 2020 and 2019, is provided below. 
-Refer to Fabulous Creations. Explain the impact on net income and cash flows of using straight-line depreciation for financial reporting and accelerated depreciation methods for income tax purposes.

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The Answer of Fabulous Creations
The assets section of the company's balance sheets for the years ended December 31, 2020 and 2019, is provided below. 
-Refer to Fabulous Creations. Explain the impact on net income and cash flows of using straight-line depreciation for financial reporting and accelerated depreciation methods for income tax purposes.

Fabulous Creations the Assets Section of the Company's Balance Sheets for the for the Years