4. During 2018, Kissane Company had current income tax expense of $127,000 and deferred income tax expense is $45,000. Kissane also had income before income taxes that totaled $632,000.

1. Prepare the 2018 partial income statement, beginning with income before income taxes (income tax section).
2. Using the income statement, create the journal entry for income tax expense, income tax payable, and deferred tax liability