Question 4 of 9 1.75/7 E (a) Your answer is correct Compute taxable income and income taxes payable for 2020. Taxable income 277800 Income taxes payable $ 83340 e Textbook and Media Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Account Titles and Explanation Debit Credit Income Tax Expense 70770 Deferred Tax Asset 19560 Deferred Tax Liability 83340 Income Tax Payable 12330 LLUTIOT themcome statement for 2020, beginning with the line "Income before income taxes. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses es: (451) Sunland Company Income Statement (Partial) For the Year Ended December 31, 2020 Income before Income Taxes Income Tax Expense Deferred $ Current Net Income (Loss)