E9-36B. (Learning Objective 1: Accounting for income tax) At December 31, 20X0, Sybil Real Estate reported a current liability for income tax payable of €160,000. During 20X1, Sybil earned income of €1,600,000 before income tax. The company’s income tax rate during 20X1 was 25%. Also during 20X1, Sybil paid income taxes of €310,000.

How much income tax payable did Sybil Real Estate report on its Balance Sheet at December 31, 20X1? How much income tax expense did Saglio report on its 20X1 Income Statement?