For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows:

Pretax accounting income	$	300,000
Permanent difference		(15,000	)
		285,000
Temporary difference-depreciation		(20,000	)
Taxable income	$	265,000

Tringali's tax rate is 40%. Assume that no estimated taxes have been paid.

a. What should Tringali report as its deferred income tax liability as of the end of its first year of operations?

b. What should Tringali report as income tax payable for its first year of operations?

c. Prepare the appropiate journal entry to record income taxes for this year.