Prior to 2019, the accounting income and taxable income forBridgeportCorporation were the same. On January 1, 2019, the company purchased equipment at a cost of $576,000. For accounting purposes, the equipment was to be depreciated over9years using the straight-line method. For income tax purposes, the equipment was subject to a CCA rate of20% (half-year rule applies for 2019).Bridgeport's income before tax for accounting purposes for 2020 was $1,892,000. The company was subject to a25% income tax rate for all applicable years and anticipated profitable years for the foreseeable future.BridgeportCorporation follows IFRS.

a) Calculate taxable income and taxes payable for 2020.

b) Prepare the journal entries to record 2020 income taxes (current and deferred).( If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

a) (To record current income taxes)

b) (Record the net change from 2019 to 2020.)