Grouper Corporation began operations in 2017 and reported pretax financial income of $218,000 for the year. Groupers tax depreciation exceeded its book depreciation by $40,000. Groupers tax rate for 2017 and years thereafter is 30%. Assume this is the only difference between Groupers pretax financial income and taxable income.

Prepare the journal entry to record the income tax expense, deferred income taxes, and income taxes payable.