The following information relates to One In a Melon for the current year ended December 31. Income before taxes $850,000 Membership fees not deductible for tax 20,000 Depreciation expense 380,000 CCA (Tax depreciation) 470,000 Loss on disposal of equipment (see additional info below) 75,000 Tax rate 30% During the year, the company sold one of its machines with carrying value of $85,000 for proceeds of $10,000, resulting in an accounting loss of $75,000. This loss has been included in the pre-tax income figure of $850,000 shown above. For tax purposes, the proceeds from the disposal were removed from the undepreciated capital cost (UCC) of the asset class. Capital losses are only deductible against capital gains. There are no capital gains this year. The deferred income tax liability account on January 1 had a credit balance of $230,000. This balance is entirely related to property, plant, and equipment (PPE). REQUIRED. Prepare the journal entries tor record income taxes for Once in a Melon. (16 marks) Debit Credit