Kingbird Corporation has pretax financial income (or loss) from 2015 through 2021 as follows.

		Income (Loss)			Tax Rate
2015		$56,640			25	%
2016		(82,600	)		20	%
2017		106,200			20	%
2018		35,400			20	%
2019		123,900			20	%
2020		(70,800	)		25	%
2021		151,600			25	%

Pretax financial income (loss) and taxable income (loss) were the same for all years since Kingbird has been in business. In recording the benefits of a loss carryforward, assume that it is more likely than not that the related benefits will be realized.

What entry for income taxes should be recorded in 2017? (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 O for the amounts.) Account Titles and Explanation Debit Credit Income Tax Expense 21240 Deferred Tax Asset 10620 Income Tax Payable 10620