Taxable income and pretax financial income would be identical for Waterway Co. except for its treatments of gross profit on installment sales and estimated costs of warranties. The following income computations have been prepared. 2019 2020 2021 Taxable income Excess of revenues over expenses (excluding two temporary differences) Installment gross profit collected Expenditures for warranties $230,000 7,400 $155,000 7,400 (5,500) $156,900 $83,500 7,400 (5,500) $85,400 (5,500 Taxable income $231,900 2019 2020 $230,000 2021 $83,500 Pretax financial income Excess of revenues over expenses (excluding two temporary differences) Installment gross profit recognized Estimated cost of warranties -0- -0- $155,000 22,200 (16,500) $160,700 -0- Income before taxes $230,000 $83,500 The tax rates in effect are 2019,40%; 2020 and 2021, 45%. All tax rates were enacted into law on January 1, 2019. No deferred income taxes existed at the beginning of 2019. 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 2019, 2020, and 2021. (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 O for the amounts.) Date Account Titles and Explanation Debit Credit