Delta Co. establishes a $50 million liability at the end of 2015 for the estimated litigation settlement for manufacturing defects. All related costs will reverse during 2016. Also, at the end of 2015, the company has $10 million of temporary differences due to excess depreciation for tax purposes, $2 million of which will reverse in 2016. The enacted tax rate for all years is expected to be fixed. The company pays taxes of $30 million on $100 million of taxable income in 2015. Delta Co. expects to have taxable income in 2016. Assuming Delta Co. paid a law-violating fine during 2015 in the amount of $5,000.

Draft the income tax expense portion of the income statement for 2015