a. Record income taxes for Year 1 and Year 2 assuming the following. For Year 2, the company computed taxable income of $45,000 and recognized a deferred tax liability balance of $2,250 related to acquisition of depreciable assets in its year-end financial statements. These amounts were consistent with management's expectations. Income tax rate enacted in Year 1 and effective for Year 2 and thereafter is 30%. Management estimates the valuation allowance on the deferred tax asset related to its Year 1NOL to be zero. Note: If a line in a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). b. List the amounts that should be reported on the income statements and balance sheets for Year 1 and Year 2. Note Use a negative sign to indicate a loss. Note: Do not use negative signs with your answers below. a. Record income taxes for Year 1 and Year 2 assuming the following. For Year 2, the company computed taxable income of $45,000 and recognized a deferred tax liability balance of $2,250 related to acquisition of depreciable assets in its year-end financial statements. These amounts were consistent with management's expectations. Income tax rate enacted in Year 1 and effective for Year 2 and thereafter is 30%. Management estimates the valuation allowance on the deferred tax asset related to its Year 1NOL to be zero. Note: If a line in a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). b. List the amounts that should be reported on the income statements and balance sheets for Year 1 and Year 2. Note Use a negative sign to indicate a loss. Note: Do not use negative signs with your answers below