income computations have been prepared.

The tax rates in effect are $2024,20\%$; $2025$ and $2026,25\%.$ All tax rates were enacted into law on January $1,2024.$ No deferred income taxes existed at the beginning of $2024.$ Taxable

income is expected in all future years.

Prepare the journal entries to record income tax expense, deferred income taxes, and income taxes payable for $2024,2025,$ and $2026.($List all debit entries before credit entries. Credit account

titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Income Tax Expense

Income Tax Payable

Deferred Tax Liability

Income Tax Expense