Marin Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July 31, 2021. The following information has been taken from the adjusted trial balance: Accounts payable $ 26,000 $5,000 Interest expense Notes payable Cash dividends-common 60,000 100,500 Common shares 200,000 318,400 Retained earnings (Aug. 1, 2020) Salaries expense Cost of goods sold 311,500 141,000 Dividends payable 14,800 Sales 686,000 Income tax expense 28,000 Supplies expense 11,000 Income tax payable 3,600 Unearned revenue 12.200 All accounts have normal balances and total assets equal $ 805,000. Marin has a 20% income tax rate. Prepare a multiple-step income statement. MARIN INC. Income Statement $ Prepare required journal entry to adjust income tax expense. (Credit account titles are automatically indented when the 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.) Date Account Titles and Explanation Debit Credit July 31 (To record income tax expense.)