Required information (The following information applies to the questions displayed below.] Randolph Company reported pretax net income from continuing operations of $1,003,000 and taxable income of $710,000. The book-tax difference of $293,000 was due to a $283,000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $140,000 due to an increase in the reserve for bad debts, and a $150,000 favorable permanent difference from the receipt of life insurance proceeds. a. Compute Randolph Company's current income tax expense. Current income tax expense IX: This is a numeric cell, so please enter numbers only. Required information [The following information applies to the questions displayed below.] Randolph Company reported pretax net income from continuing operations of $1,003,000 and taxable income of $710,000. The book-tax difference of $293,000 was due to a $283,000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $140,000 due to an increase in the reserve for bad debts, and a $150,000 favorable permanent difference from the receipt of life insurance proceeds. b. Compute Randolph Company's deferred income tax expense or benefit. Deferred income tax expense $ 341,020