Reid company reports 2024 pretax accounting income of $15 million, but because of a single temporary difference, taxable income is only $10 million. No temporary differences existed at the beginning of the year, and the tax rate was 30%. Requirement: a. Show the amount for each of the four steps: a. Step 1: Tax payable b. Step 2: Deferred tax liability: c. Step 3: Deferred tax change: d. Step 4: Tax expense plug: b. Prepare the appropriate journal entry to record income taxes