Arrow Company began operations at teh beginning of 2016. At the end of 2016, Arrow reported taxable income of $20,800 and pretax financial income of $22,200 becasue of a single temporary deifference. The income tax rate for teh current year is 30%, but congress has enacted a 40% tax rate for 2017 and beyond

Required

Prepare Arrows Income tax journal entry at teh end of 2016