The following facts relate to Crane Corporation.

Deferred tax liability, January $1,2025,$$$25,200.$

Deferred tax asset, January $1,2025,$$$0.$

Taxable income for $2025,$$$107,350.$

Pretax financial income for $2025,$$$213,000.$

Cumulative temporary difference at December $31,2025,$ giving rise to future taxable amounts, $$271,200.$

Cumulative temporary difference at December $31,2025,$ giving rise to future deductible amounts, $$39,550.$

Tax rate for all years, $20\%.$

The company is expected to operate profitably in the future.

Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for $2025.($List debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manual no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Income Tax Expense

Deferred Tax Asset

Deferred Tax Liability

Income Tax Payable

Debit

Credit