Martinez Corporation recorded warranty accruals as at December 31, 2020 in the amount of $156,500. This reversing difference will cause deductible amounts of $50,300 in 2021, $40,500 in 2022, and $65,700 in 2023. No other reversing difference exists. Martinez's accounting income is $163,000 in each of 2021 and 2022 and the tax rate is 25% for all years. The warranty expenditures occurred as expected. There are no deferred tax accounts at the beginning of 2020. Calculate the deferred tax balances at December 31, 2021 and 2022. 2021 2022 Deferred tax $ $ Calculate taxable income and income tax payable for 2021 and 2022. 2021 2022 Taxable income $ $ ta Income tax payable $ ta Prepare the journal entries to record income taxes for 2021 and 2022. (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 0 for the amounts.) Date Account Titles and Explanation Debit Credit 2021 (To record current tax expense) (To record deferred tax expense) 2022 (To record current tax expense) (To record deferred tax expense) Prepare the income tax expense section of the income statements for 2021 and 2022, beginning with the line Income before income tax." Martinez Corporation (Partial) Income Statement $ $ $ $ Martinez Corporation (Partial) Income Statement $ $ $ ta $ $ What trend do you notice in the amount of net income reported for 2021 and 2022 in part (d)? The net income is in 2022. Is this a coincidence? This trend in net income