Lasko, Inc reports warranty expense when related products are sold. For tax purposes, the warranty costs are deductible as they are paid. At the end of the current year, Ianco has a warranty liability of $250,000 and taxable income of $25,000,000. At the end of the previous year, Lasko reported a deferred tax asset of $74,000 related to the temporary difference in warranty expense reporting, its only difference. The enacted tax rate is 40%.

Please prepare the appropriate journal entry to record the income tax providion