During 2020, Pronghorn Co's furst year of operations, the comoany reports pretax financial income at 52 se. 100 Pror ghcen'senact tax rate is 45% for 2020 and 20% for all later vears. Pronghorn expcts to have tacable income in wach of the nent 5 vears. The effec on future tax returns of temporary cifferences existing at December 31, 2020, are summariand as follows. sigs precedins the number es. -45 ar porentheier e.5. (45)] Compute trabable income for 2000 Trable incense for 200x 5 Prepare the joumal entry to record income takes payable, deferred tanes, and income tarcopence for zopo. (Cresit account titles are automaticaily indented when amount is entered, Do not indent manualiy, if mo entry is required, sulect "No Entry" for the account titiles and enter for the amounts) During 2020, Pronghorn Co's furst year of operations, the comoany reports pretax financial income at 52 se. 100 Pror ghcen'senact tax rate is 45% for 2020 and 20% for all later vears. Pronghorn expcts to have tacable income in wach of the nent 5 vears. The effec on future tax returns of temporary cifferences existing at December 31, 2020, are summariand as follows. sigs precedins the number es. -45 ar porentheier e.5. (45)] Compute trabable income for 2000 Trable incense for 200x 5 Prepare the joumal entry to record income takes payable, deferred tanes, and income tarcopence for zopo. (Cresit account titles are automaticaily indented when amount is entered, Do not indent manualiy, if mo entry is required, sulect "No Entry" for the account titiles and enter for the amounts)