The accounting income of Bramble Corporation and its taxable income for the years 2020 to 2023 are as follows:

Year		Accounting Income			Taxable Income			Tax Rate
2020		$469,000			$301,000			25%
2021		429,000			303,000			30%
2022		392,000			310,000			30%
2023		469,000			643,000			30%

The change in the tax rate from 25% to 30% was not enacted until early in 2021. Accounting income for each year includes an expense of $45,000 that will never be deductible for tax purposes. The remainder of the difference between accounting income and taxable income in each period is due to one reversing difference for the depreciation of property, plant, and equipment. No deferred taxes existed at the beginning of 2020.

Calculate the current and deferred tax expense or benefit for each of the four years. Also calculate the balance of the deferred tax balance sheet account at the end of each fiscal year from 2020 to 2023.

		2020		2021		2022		2023
Current tax expense		$		$		$		$
Deferred tax asset/liability		$		$		$		$
Deferred tax expense/benefit		$		$		$		$

Prepare journal entries to record income taxes in all four years

2020 (To record current tax expense) (To record deferred tax expense) 2021 (To record the adjustment for the increase in the enacted tax rate) (To record current tax expense) (To record deferred tax expense) 2022 (To record current tax expense) (To record deferred tax expense) 2023 (To record current tax expense) (To record deferred tax benefit) Prepare the bottom of the income statement for 2021, beginning with the line "Income before income tax." Bramble Corporation (Partial) Income Statement Deferred Tax Liability Income Tax Expense - Current Current Income Tax Benefit Income Tax Expense - Deferred Income Before Income Tax Deferred Tax Asset Net Income / (Loss) 2020 (To record current tax expense) (To record deferred tax expense) 2021 (To record the adjustment for the increase in the enacted tax rate) (To record current tax expense) (To record deferred tax expense) 2022 (To record current tax expense) (To record deferred tax expense) 2023 (To record current tax expense) (To record deferred tax benefit) Prepare the bottom of the income statement for 2021, beginning with the line "Income before income tax." Bramble Corporation (Partial) Income Statement Deferred Tax Liability Income Tax Expense - Current Current Income Tax Benefit Income Tax Expense - Deferred Income Before Income Tax Deferred Tax Asset Net Income / (Loss)