Arial Inc. recognized taxable income of $130,000 for the year ended December 31, 2020. Arial calculated a deferred tax liability $10,000 on December 31, 2020. The tax rate is 25%. Assume zero beginning balances in deferred tax accounts. If we prepared the income tax expense journal entry on December 31, 2020. Income Tax Expense would be $42,500 Income Tax Expense would be $45,000 Deferred Tax Liability would be $32,500 Tax Payable would be $15,000