Current Attempt in Progress Blossom Company has the following two temporary differences between its income tax expense and income taxes payable. 2025 2026 2027 Pretax financial income $823,000 $884,000 $993,000 Excess depreciation expense on tax return (29,700) (38,800) (9,500) Excess warranty expense in financial income 20,200 10,300 8,000 Taxable income $813,500 $855,500 $991,500 The income tax rate for all years is 20%. (a) Your answer is correct. Assuming there were no temporary differences prior to 2025, prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2025, 2026, and 2027. (List all debit entries before credit entries. 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 O for the amounts. Record journal entries in the order presented in the problem.) Account Titles and Explanation Income Tax Expense Deferred Tax Asset Debit 2025 Income Tax Payable Deferred Tax Liability 2026 Income Tax Expense Deferred Tax Asset Income Tax Payable Deferred Tax Liability Income Tax Expense Deferred Tax Asset Income Tax Payable Deferred Tax Liability eTextbook and Media List of Accounts (b) Your Answer Correct Answer (Used) -Your answer is partially correct. 2027 164,600 4,040 176,800 2,060 198,600 1,600 Credit 162,700 5,940 171,100 7760 198,300 1,900 Attempts: 2 of 3 used Indicate how deferred taxes will be reported on the 2027 balance sheet. Blossom's product warranty is for 12 months. Total Long-Term Liabilities Deferred Tax Liability eTextbook and Media Solution List of Accounts BLOSSOM COMPANY Balance Sheet (Partial) December 31, 2027 16,500 Attempts: 3 of 3 used (c) Prepare the income tax expense section of the income statement for 2027, beginning with the line "Pretax financial income." (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg (45).) BLOSSOM COMPANY Income Statement (Partial) eTextbook and Media List of Accounts Save for Later $ Attempts: 0 of 3 used Submit