Recerting and Furportine Multiple Temporary Oitferencet Aequired b. Prepare the income fox section of the income statement for the year and provide the disclosure of current and deferred tax expense -Note Do not use negative s gns with your answers c. Compute the eftective tar rate for the year. Pecording and Aeporting Multiple Tomporary Differences Thle Company chaws the foliowing results of operotions on Decerrber It, its firstyear af operacions. 1. Pretiar CuAp income foe the current year totali $350,005. Taxable income is $315,000 4. Enacted tak ibte for the ciarrent year and all futare years is 25 th Required A. Provide the pourha entry to tecard incoine tak expenke for the year. - Note. Do not unc hrepove yeris with your anomer. 6. Pregare the income tax section of the income statement for the year and provide the daclosure of curreat and deferred tax expense - Note: Do not use negative signs with your answers. c. combute the effective tax rate for the year Recerting and Furportine Multiple Temporary Oitferencet Aequired b. Prepare the income fox section of the income statement for the year and provide the disclosure of current and deferred tax expense -Note Do not use negative s gns with your answers c. Compute the eftective tar rate for the year. Pecording and Aeporting Multiple Tomporary Differences Thle Company chaws the foliowing results of operotions on Decerrber It, its firstyear af operacions. 1. Pretiar CuAp income foe the current year totali $350,005. Taxable income is $315,000 4. Enacted tak ibte for the ciarrent year and all futare years is 25 th Required A. Provide the pourha entry to tecard incoine tak expenke for the year. - Note. Do not unc hrepove yeris with your anomer. 6. Pregare the income tax section of the income statement for the year and provide the daclosure of curreat and deferred tax expense - Note: Do not use negative signs with your answers. c. combute the effective tax rate for the year