The following facts relate to Blossom Corporation.

Deferred tax liability, January $1,2025,$$$30,300.$

Deferred tax asset, January $1,2025,$$$10,100.$

Taxable income for $2025,$$$106,050.$

Cumulative temporary difference at December $31,2025,$ giving rise to future taxable amounts, $$232,300.$

Cumulative temporary difference at December $31,2025,$ giving rise to future deductible amounts, $$95,950.$

Tax rate for all $20\%.$ No permanent differences exist.

The company is expected to operate profitably in the future.

$($a$)$

Your answer is correct.

Compute the amount of pretax financial income for $2025.$

Pretax financial income $

Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for $2025.($List all debit entries before credit entries. 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.$)$

Account Titles and Explanation

Debit

Credit

Income Tax Expense

Deferred Tax Asset

Deferred Tax Liability

Income Tax Payable

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List of Accounts

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