On January 1, 2020, ABC Corp. purchased 30,000 shares of the voting common stock of XYZ, Inc. During 2020, XYZ had the following information: Reported earnings $ 550,000 Paid dividends $ 380,000 Common stock at $15 par value $1,500,000 Additional paid in capital - common stock $ 680,000 ABC assumes that all of XYZ's undistributed earnings will be distributed as dividends in future periods when the enacted tax rate will be 46% ABC's current enacted income tax rate is: 40% Prepare a journal entry to reflect the change in deferred tax for ABC as of 12/31/2020. Show work.