d. Does the company have an ethical benefits? The following journal entry summarizes for the current year the income tax expense of Sophie's SE 10.14 Software Warehouse: ncome Taxes Income Tax Expense .. 1,500,000 Cash . ..... 960,000 Income Tax Payable . . ... 330,000 Deferred Income Tax . . . . 210,000 To record income tax expense for the current year. Of the deferred income taxes, only $30,000 is classified as a current liability. a. Define the term deferred income tax. b. What is the amount of income tax that the company has paid or expects to pay in conjunction with its income tax return for the current year? c. Illustrate the allocation of the liabilities shown in the above journal entry between the clas- sifications of current liabilities and long-term liabilities