Marble Co. at the end of 2017, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows: Pretax financial income 800,000 Estimated litigation expense 600,000 Installment sales (480,000) Taxable income 920,000 The estimated litigation expense of $600,000 will be deductible in 2019 when it is expected to be paid. The gross profit from the installment sales will be realized in the amount of $240,000 in each of the next two years. The estimated liability for litigation is classified as noncurrent and the installment accounts receivable are classified as $240,000 current and $240,000 noncurrent. The income tax rate is 35% for all years. The estimated litigation expense of $600,000 will be deductible in 2019 when it is expected to be paid. The gross profit from the installment sales will be realized in the amount of $240,000 in each of the next two years. The estimated liability for litigation is classified as noncurrent and the installment accounts receivable are classified as $240.000 current and $240,000 noncurrent. The income tax rate is 35% for all years. a. Calculate the income tax expense (3 points] A/ b. Calculate the deferred tax asset AM to be recognized [4 points] Calculate the deferred tax liability to be recognized [5 points) A/