The following information relates to Splish Inc.:

The following information relates to Splish Inc.: Temporary difference, giving rise to future taxable amounts Temporary difference, giving rise to future deductible amounts At July 1, 2019 $88,000 35,000 At June 30, 2020 $153,000 89,000 Accounting income for the year ended June 30, 2020 was $136,000. No permanent differences existed during the fiscal year. The company was expected to operate profitably in the future. The tax rate was 18% for the current and future years. Splish Inc. follows IFRS. Calculate the amount of taxable income for 2020. $ Taxable income, 2020 Prepare the journal entries to record income taxes for 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.). Account Titles and Explanation Debit Credit (To record current tax expense.) (To record deferred tax expense.) Calculate the effective rate for 2020. % Effective rate, 2020