Taxable income and pretax financial income would be identical for Martinez Co. except for its treatments of gross profit on installment sales and estimated costs of warranties. The following income computations have been prepared.

Taxable income		2016			2017			2018
Excess of revenues over expenses (excluding two temporary differences)		$149,000			$218,000			$83,200
Installment gross profit collected		7,300			7,300			7,300
Expenditures for warranties		(5,000	)		(5,000	)		(5,000	)
Taxable income		$151,300			$220,300			$85,500
Pretax financial income		2016			2017			2018
Excess of revenues over expenses (excluding two temporary differences)		$149,000			$218,000			$83,200
Installment gross profit recognized		21,900			0			0
Estimated cost of warranties		(15,000	)		0			0
Income before taxes		$155,900			$218,000			$83,200

The tax rates in effect are 2016, 40%; 2017 and 2018, 45%. All tax rates were enacted into law on January 1, 2016. No deferred income taxes existed at the beginning of 2016. Taxable income is expected in all future years. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2016, 2017, and 2018. (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 0 for the amounts.)

Date Account Titles and Explanation Debit Credit Dec. 31, 2016 Income Tax Expense 62590 Deferred Tax Asset 4500 Income Tax Pavable 60520 Deferred Tax Liability 6570 Dec. 31, 2017 Income Tax Expense 100170 Deferred Tax Liability 3285 Income Tax Pavable 99135 Deferred Tax Asset 3285 Dec. 31, 2018 Income Tax Expense 39510 Deferred Tax Liability 3285 Income Tax Pavable 38475 Deferred Tax Asset 2250