DE13-20 Harry's Hot Dogs had income before income tax of $120,000 and taxable income of $90,000 for 20X1, the company's first year of operations. The income tax rate is 40%. 1. Make the entry to record Harry's income taxes for 20X1. 2. Show what Harry's Hot Dogs will report on its 20X1 income statement starting with income before income tax. Also show what Harry will report for current and long-term liabilities on its December 31, 20X1, balance sheet.