On 1 January 2017, Doggle had an opening debit balance of 12,000 on its tax account, which represented the amount underprovided in respect of its previous years liability. Doggle had a credit balance on its deferred tax account of 1,358,000 at the same date. Doggle has calculated that it should expect to pay tax of 940,000 on its trading profits for the year ended 31 December 2017 and increase its deferred tax account balance by 37,000.

Required: Prepare extracts from the income statement for the year ended 31 December 2017, statement of financial position at that date and notes to the accounts showing the tax entries required.