Financial Statement Presentation Record the income tax journal entry on December 31 of Year 1, Year 2, Year 3, and Year 4 3. Compute the increase to income tax payable on December 31 of Year 1, Year 2 Year 3, and Year 4. b. Prepare a schedule to compute the deferred tax balance on December 31 of Year 1, Year 2. Year 3, and Year 4. - Note Do not use negative signs with your answers tequired d. For eachyear show how the deferred income tax amount would be reported on the balance sheet. e. Prepare the income tax section of the income statement for Year 1 and provide the disclosure of current and deferred tax expense. - Note: Do not use negative signs whth your answers. Pinate anuwer all parts of the questuon