Problem #3: Gold operation Deferred Tax en Rams Company began operating on January 1, 2017. At the end of the first year of s, Golden Rams reported $300,000 of financial income but only $200,000 of taxable income on its tax return. An analysis of the $100,000 difference revealed the following: $30,000 of rent collected in advance. $60,000 of accelerated depreciation over book depreciation. $10,000 of interest received on tax-exempt municipal obligations. . The enacted tax rate for 2017 is 30%. 1. What is the amount of the Income Tax Payable? 2. What is the amount of the Deferred Tax Asset? 3. What is the amount of the Deferred Tax Liability? 4. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable