Crane Company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 Pretax financial income $851,000 $864,000 $985,000 Excess depreciation expense on tax return (29,600 ) (40,900 ) (10,500 ) Excess warranty expense in financial income 20,500 10,300 8,100 Taxable income $841,900 $833,400 $982,600 The income tax rate for all years is 40%. Partially correct answer. Your answer is partially correct. Try again. Assuming there were no temporary differences prior to 2017, prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit 2017 Entry field with correct answer Income Tax Expense Entry field with correct answer 340400 Entry field with correct answer Entry field with correct answer Deferred Tax Asset Entry field with incorrect answer now contains modified data Entry field with correct answer Entry field with correct answer Income Tax Payable Entry field with correct answer Entry field with correct answer 336760 Entry field with correct answer Deferred Tax Liability Entry field with correct answer Entry field with incorrect answer now contains modified data 2018 Entry field with correct answer Income Tax Expense Entry field with correct answer 345600 Entry field with correct answer Entry field with correct answer Deferred Tax Asset Entry field with incorrect answer now contains modified data Entry field with correct answer Entry field with correct answer Income Tax Payable Entry field with correct answer Entry field with correct answer 333360 Entry field with correct answer Deferred Tax Liability Entry field with correct answer Entry field with incorrect answer now contains modified data 2019 Entry field with correct answer Income Tax Expense Entry field with correct answer 394000 Entry field with correct answer Entry field with correct answer Deferred Tax Asset Entry field with incorrect answer now contains modified data Entry field with correct answer Entry field with correct answer Income Tax Payable Entry field with correct answer Entry field with correct answer 393040 Entry field with correct answer Deferred Tax Liability Entry field with correct answer Entry field with incorrect answer now contains modified data SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Incorrect answer. Your answer is incorrect. Try again. Indicate how deferred taxes will be reported on the 2019 balance sheet. Cranes product warranty is for 12 months. Crane Company Balance Sheet Entry field with incorrect answer now contains modified data Entry field with incorrect answer Entry field with incorrect answer $Entry field with incorrect answer SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Incorrect answer. Your answer is incorrect. Try again. Prepare the income tax expense section of the income statement for 2019, beginning with the line Pretax financial income. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Crane Company Income Statement (Partial) Entry field with incorrect answer now contains modified data Entry field with incorrect answer now contains modified data $Entry field with incorrect answer Entry field with incorrect answer now contains modified data Entry field with incorrect answer now contains modified data $Entry field with incorrect answer Entry field with incorrect answer now contains modified data Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer now contains modified data $Entry field with incorrect answer