Prepare the journal entries to record deferred tax benefit. (Pls show workings)

Sheridan Inc. reports accounting income of $102,000 for 2023 , its first year of operations. The following items cause taxable income to be different than income reported on the financial statements. 1. Capital cost allowance (on the tax return) is greater than depreciation on the income statement by $11,600. 2. Rent revenue reported on the tax return is $17,400 higher than rent revenue reported on the income statement. 3. Non-deductible fines appear as an expense of $9,100 on the income statement. 4. Sheridan's tax rate is 30% for all years and the company expects to report taxable income in all future years. Sheridan reports under IFRS. Calculate taxable income and income tax payable for 2023. Taxable income for 2023 $ Income tax payable for 2023 $ Deferred tax Year Account Titles and Explanation Debit Credit 2023 Current Tax Expense 35070 Income Tax Payable 35070 (To record current tax expense) 2023 Deferred Tax Liability 1740 Deferred Tax Benefit 1740 No Entry 1740 Deferred Tax Benefit Income Tax Payable Credit \begin{tabular}{|l|} \hline Debit \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} 35070 Deferred Tax Liability (To record deferred tax benefit)