Delta Company has taxable income for 2019 of 1,250,000 with a tax rate for current and future years of 20%. At the beginning of the year Delta had a deferred tax asset balance of $280,000 and the Allowance to Reduce Deferred Tax Assets had a balance of $65,000. During 2019 the difference behind the deferred tax asset increased by $400,000

Required:

Record income tax expense, deferred income taxes, and income taxes payable for 2019 assuming that more likely than not the deferred tax asset will be realized in full.

Record income tax expense, deferred income taxes, and income taxes payable for 2019 assuming that more likely than not that none of the deferred tax asset will be realized.