Oriole Corporation purchased equipment very late in 2023. Based on generous capital cost allowance rates provided in the Income Tax Act, Oriole claimed CCA on its 2023 tax return but did not record any depreciation because the equipment was being tested. This temporary difference will reverse and cause taxable amounts of $31,300 in 2024, $34,200 in 2025, and $42,300 in 2026. Oriole's accounting income for 2023 is $235,600 and the tax rate is 30% for all years. There are no deferred tax accounts at the beginning of 2023. (a) Your Answer Correct Answer Your answer is partially correct. Calculate the deferred tax balance at December 31, 2023. (b) (c) Deferred tax liability eTextbook and Media Solution List of Accounts 107800 Calculate taxable income and income tax payable for 2023. Taxable income $ Income tax payable $ eTextbook and Media List of Accounts Save for Later Assistance Used Attempts: 2 of 2 used Attempts: 0 of 2 used Submit Answer Prepare the journal entries to record income taxes for 2023. (List all debit entries before credit entries. 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.) Year Account Titles and Explanation 2023 Debit Credit Prepare the journal entries to record income taxes for 2023. (List all debit entries before credit entries. 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.) (d) Year Account Titles and Explanation 2023 2023 (To record current tax expense) (To record deferred tax expense) eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 2 used Submit Answer Prepare the income tax expense section of the income statement for 2023, beginning with the line "Income before income tax." ORIOLE CORPORATION (Partial) Income Statement eTextbook and Media List of Accounts Save for Later $ Attempts: 0 of 2 used Submit