The following differences enter into the reconciliation of financial income and taxable income of Salter Company for the year ended December 31, 2016, its first year of operation. the enacted income tax rate is 30% for all years. Excess depreciation will reverse equally over a four-year period, 2017-2020. Rent revenue will be recognized as earned for book purposes equally over a four-year period, 2017-2020. Required: Prepare the journal entry to record income tax expense, deferred taxes, and the income taxes payable for 2016. Prepare the income tax expense section of the income statement for 2016, beginning with the line "Income before income taxes