(B) Prepare the journal entry for income tax expense, deferred income taxes, and income taxes payable in 2025 and 2026

The following facts relate to Cullumber Corporation. 1. Deferred tax liability, January 1,2025,$25,600. 2. Deferred tax asset, January 1,2025,$0. 3. Taxable income for 2025,$108,300. 4. Pretax financial income for 2025,$214,000. 5. Cumulative temporary difference at December 31,2025 , giving rise to future taxable amounts, $273,600. 6. Cumulative temporary difference at December 31,2025 , giving rise to future deductible amounts, $39,900. 7. Tax rate for all years, 20%. 8. The company is expected to operate profitably in the future