Reado Inc. has the following information for 20X4: Accounting income before tax is $400,000; Permanent difference is a non-deductible expense of $53,000; depreciation is $260,000 and CCA is $310,000. The company's tax rate for 20X3 and 20X4 is 30%. Using the short cut method: Multiple Choice The increase to the deferred tax liability account is: (310, 000 - 260, 000) X 30% = $15,000. The taxes payable is calculated to be $120, 900. The income tax expense is calculated to be $120,000. O The decrease to the deferred tax liability account is: (310,000 - 260,000) X 30% = $15,000