Baker Company also reported the following information related to their taxes: 2019 Income Before Tax on the Income Statement $200,000 Income Before Tax (Taxable Income) on the Tax Return $190,000 Current tax rate 21% Expected tax rate for the future 25% 2020 $250,000 $240,000 25% 28% 2019 was the first year Baker reported different amounts of income on their income statement versus their tax return. 1. Assuming the differences above were permanent differences, prepare the income tax entry for December 31, 2019 and the income tax entry for December 31, 2020. Please show your work. 2. Assuming the differences above were temporary differences, prepare the income tax entry for December 31, 2019 and the income tax entry for December 31, 2020. Please show your work