Question 29 5 pts The Corporation prepared the following reconciliation for its first year of operations: Pretax financial income for 2021 $ 1,800,000 Tax exempt interest (150,000) Originating temporary difference (350,000) Taxable income $1,300,000 The temporary difference will reverse evenly over the next two years at an enacted tax rate of 40%. The enacted tax rate for 2021 is 35%. Reference: Ref 19-4 What amount should be reported in its 2021 income statement as the deferred portion of income tax expense? $140,000 debit $140,000 credit O $175,000 credit $175,000 debit