for the first three years of operations for Cooper Company The following information is 1 Year Taxable income $500,000 2021 375,000 2002 400,000 2020 ars and noge value The shine method and the les depreciation 2. On January 2, 2020, heavy equipment costing $800,000 was purchased. The equipment had a takon each year is listed below Tax Depreciation 2020 2021 2022 2023 Total $264.000 $360,000 $120,000 $56,000 $800.000 3. On January 2, 2021. $360.000 was collected in advance for rental of a building for a three revenue at December 31, 2021 for book purposes ur period. The entire $300,000 was reported as taxable income in 2001, but $240.000 of the $300.000 was reported as med 4. The enacted tax rates are 20% for all years. Instructions Prepare the journal entry to record income tax expense, deferred Income taxes, and income tax payable for 2020 2021 2022