The following facts relate to Blue River Incorporation: 1) Deferred tax asset, January 1, 2020, 32,000. 2) Pretax financial income for 2019, 250,000. 3) Cumulative temporary difference at December 31, 2020, giving rise to future deductible amounts, 40,000. 4) Tax rate for all years, 40%. 5) The company is expected to operate profitably in the future. REQUIRED: b) Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020