5) Georgia Corporation has one temporary difference at the end of 2017 that will reverse and cause future deductible amounts of $60,000 in 2018, $70,000 in 2019, and $80,000 in 2020. Georgia's pretax financial income for 2017 is $400,000, and the tax rate is 40% for all years. There are no deferred taxes at te beginning of 2017. Instructions: (a) Compute taxable income and income taxes payable for 2017. (b) Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017. (c ) Prepare the income tax expense section of the income statement for 2017, beginning with the line "Income before income taxes."