Kara Fashions uses straight-line depreciation for financial statement reporting and MACRS for income tax reporting. Three years after its purchase, one of Kara's buildings has a book value of exist340,000 and a tax basis of exist220,000. There were no other temporary differences and no permanent differences. Taxable income was exist6 million and Kara's tax rate is 30%. What is the deferred tax liability to be reported in the balance sheet? Assume that the deferred tax liability balance was exist27, 200 the previous year. Prepare the appropriate journal entry record income taxes this year