Mellock Company reports prix esancial income of $66.300 for 2020. The following items cause taxable income to be different t pretax financial income Depreciation on the tax return is greater than depreciation on the income statement by $16,200 1 2. 3. Hent collected i tax return is greater than rent recognized on the income statement by $21.100. Fines for pollution appear as an expense of $10,700 on the income statement Metlock's rate is 30% for all years, and the company expects to report taxable income in all future years. There are deferred Las at the beginning of 2020 Your answer is correct. (b) Compute taxable income and income taxes payable for 2020. Taxable income 81900 Income taxes payable $ 24570 eTextbook and Media List of Accounts Q Search Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020. (Credit account titles are outomatically indented when 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) Account Titles and Explanation Debit Credit eTextbook and Medis