Larkspur Limited is a private corporation reporting under ASPE. At December 31,2024 , its general ledger contained the following summary data: Additional information: 1. In 2024 , common share dividends of $26,500 were declared on June 30 and December 31 . The dividends were paid on July 8 , 2024 , and January 8,2025 , respectively. 2. The company's income tax rate is 20%. Your answer is partially correct. Determine income tax expense. Income tax expense $ Prepare a multiple-step income statement for 2024