1. Deferred tax liability, January 1, 2014, $139,280. 2. Deferred tax asset, January 1, 2014, $0. 3. Taxable income for 2014, $330,790. 4. Pretax financial income for 2014, $580,333. 5. Cumulative temporary difference at December 31, 2014, giving rise to future taxable amounts, $835,680. 6. Cumulative temporary difference at December 31, 2014, giving rise to future deductible amounts, $121,870. 7. Tax rate for all years, 30%. 8. The company is expected to operate profitably in the future. Correct answer. Your answer is correct. Compute income taxes payable for 2014. (Round answer to the nearest dollar amount, e.g. $1,525.) Income taxes payable $Entry field with correct answer 99237 SHOW LIST OF ACCOUNTS LINK TO TEXT Partially correct answer. Your answer is partially correct. Try again. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2014. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to the nearest dollar amount, e.g. $1,525.) Account Titles and Explanation Debit Credit Entry field with correct answer Income Tax Expense Entry field with correct answer 174100 Entry field with correct answer Entry field with correct answer Deferred Tax Asset Entry field with incorrect answer 41784 Entry field with correct answer Entry field with correct answer Deferred Tax Liability Entry field with correct answer Entry field with incorrect answer 41784 Entry field with correct answer Income Tax Payable Entry field with correct answer Entry field with correct answer 99237 SHOW LIST OF ACCOUNTS LINK TO TEXT Partially correct answer. Your answer is partially correct. Try again. Prepare the income tax expense section of the income statement for 2014, beginning with the line Income before income taxes.. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Krung Thep Corporation Income Statement (Partial) Year ended December 31, 2014 Entry field with correct answer $Entry field with correct answer 580333 Entry field with correct answer $Entry field with incorrect answer Entry field with correct answer Entry field with incorrect answer Entry field with incorrect answer Entry field with correct answer $Entry field with incorrect answer