Exercise 19-3 Indigo Corporation began 2017 with a $93,500 balance in the Deferred Tax Liability account. At the end of 2017, the related cumulative temporary difference amounts to $337,400, and it will reverse evenly over the next 2 years. Pretax accounting income for 2017 is $561,100, the tax rate for all years is 40%, and taxable income for 2017 is $457,450. Compute income taxes payable for 2017. Income taxes payablet SHOW LIST OF ACCOUNTS Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit Income Tax Expense Income Tax Payable Deferred Tax Liability SHOW LIST OF ACCOUNTS Prepare the income tax expense section of the income statement for 2017 beginning with the line "Income before income taxes.". (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Indigo Corporation Income Statement (Partial) For the Year Ended December 31, 2017 - Income before Income Taxes - Income Tax Expense Current Deferred Net Income / (Loss) Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS Question Attempts: 0 of 2 used