Prior to 2019, the accounting income and taxable income for Wildhorse Corporation were the same. On January 1, 2019, the company purchased equipment at a cost of $1,140,000. For accounting purposes, the equipment was to be depreciated over six years using the straight- line method and no residual value. For income tax purposes, the equipment was subject to a CCA rate of 30% (half-year rule applies for 2019). Wildhorse's income before tax for accounting purposes for 2020 was $11,800,000. The company was subject to a 20% income tax rate for all applicable years and anticipated profitable years for the foreseeable future. Wildhorse follows IFRS. Determine: a) Calculate taxable income and taxes payable for 2020. b) Calculate the temporary difference for equipment c) Prepare the journal entries to record 2020 income taxes (current and deferred)