Gallo Light began operations in 2015. on an installment basis. In those cases Gallo reports revenue from installment sales using the installment method permitted under U S. GAAP. In 2015. Gallo made a sale on installment basis for $90,000. Gallo expect* to collect the sale amount equally over the next three years. The tax rate in 2015 is 30%, but based on enacted law. it is scheduled to become 35% in 2017. Gallo Light's pretax accounting income from the 2015 income statement was $830.000. There were no other temporary differences in 2015. Required: Prepare the appropriate journal entry to record Gallo Light 2015 income taxes. Show calculations. Prepare the appropriate journal entry to record Gallo Light's 2016 income taxes Assume pre-tax income of $620,000. Show calculations. What is Gallo's taxable income in 2015 and 2016