2021 through 2024 except for differences in depreciation on an operational asset. The asset cost $290,000 and is depreciated for income tax purposes in the following amounts: 2021 2022 2023 2024 $ 95,700 127,600 43,500 23,200 The operational asset has a four-year life and no residual value. The straight-line method is used for financial reporting purposes. Income amounts before depreciation expense and income taxes for each of the four years were as follows: Accounting income before taxes and depreciation 2021 2022 $155,000 $175,000 2023 2024 $ 165,000 $165,000 Assume the income tax rate for 2021 and 2022 was 30%; however, during 2022, tax legislation was passed to raise the tax rate to 40% beginning in 2023. The 40% rate remained in effect through the years 2023 and 2024. Both the accounting and income tax periods end December 31. Required: Prepare the journal entries to record income taxes for the years 2021 through 2024. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Dec 31, 2021 Income tax expense Income tax payable Deferred tax liability 2 Dec 31, 2022 Income tax expense Innama tavnounbla View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Dec 31, 2021 Income tax expense Income tax payable Deferred tax liability 2 Dec 31, 2022 Income tax expense Income tax payable Deferred tax liability 3 Dec 31, 2023 Income tax expense Deferred tax liability Income tax payable 4 Dec 31, 2024 Income tax expense Deferred tax liability Income tax payable