Bradley Company has following differences that enter into the reconciliation of financial income and taxable income. Taxable income for the year ended December 31, 2019, its first year of operations, is 300,000. The enacted income tax rate is 35% of all years and the company expects to report taxable income in all future years. Interest income on tax-exempt municipal bonds 20,000 Excess tax depreciation (amount that tax depreciation exceeds 80,000 accounting depreciation this year) Estimated lawsuit accrual expense 15,000 Excess tax depreciation will reverse equally over a four-year period 2020-2023. It is estimated the lawsuit liability will be paid and deducted for tax purposes in 2023. Instruction: ()Prepare the journal entry to record income tax expense, income tax payable and deferred income tax for Bradley for 2019 and (1) Complete the following bottom portion of Bradley's income statement for 2019. Pretax financial accounting income Income Tax Expense Current: Deferred: Total tax expense Net Income