The following journal entry summarizes for the current year the income tax expense of Wilson's Software Warehouse: Of the deferred income taxes, only $30,000 is classified as a current liability. Debit Credit Income Tax Exp 1,500,000 Cash 960,000 Income Tax payable 340,000 Defered Income taxes 200,000 To record income tax exp for current year b.What is the amount of income tax that the company has paid or expects to pay in conjunction with its income tax return for the current year? Illustrate the allocation of the liabilities shown in the above journal entry between the classifications of current liabilities and long-term liabilities