Pole Co. At the end of 2015, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows: Pretax financial income $ 420, 000 Extra depreciation taken for tax purposes (1, 050, 000) Estimated expenses deductible for taxes when paid 890, 000 Taxable income $ 260.000 Use of the depreciable assets will result in taxable amounts of $350, 000 in each of the next three years. The estimated litigation expenses of $890, 000 will be deductible in 2018 when settlement is expected. Instructions Prepare a schedule of future taxable and deductible amounts. Prepare the journal entry to record income tax expense, deferred taxes, and income taxes payable for 2015, assuming a tax rate of 40% for all years