The profit before tax, as reported in the statement of profit and loss for Albury Ltd for the year ended 30 June 2024, amounted to $400 000, including the following revenue and expense items. Government grant Interest revenue Rent revenue Bad debts expense $ 200 000 200 000 45 000 40 000 Depreciation expense - equipment Depreciation expense-plant Wages expense 30 000 80 000 480 000 80 000 Long service leave expense The draft statements of financial position of Albury Ltd at 30 June 2023 and 30 June 2024 showed the following assets and liabilities. 2023 2024 Assets Cash Inventories $ 120 000 $ 120 000 400 000 600 000 Accounts receivable 200 000 280 000 Allowance for doubtful debts (20 000) (40 000) Interest receivable 100 000 80 000 Equipment 120 000 120 000 Accumulated depreciation-equipment (60 000) (90 000) Plant 800 000 800 000 Accumulated depreciation - plant (160 000) (240 000) Goodwill 60 000 60 000 Deferred tax asset 132 000 Liabilities Accounts payable 240 000 160 000 Wages payable 200 000 320 000 Rent revenue received in advance 20 000 60 000 Loan payable 800 000 400 000 2023 2024 Provision for long service leave Deferred tax liability Additional information 160 000 120 000 96 000 In the year ended 30 June 2023, Albury Ltd had a tax loss of $260 000. Plant is depreciated on a straight-line basis over 10 years for accounting purposes, but over 5 years for taxation purposes. Equipment is depreciated on a straight-line basis over 4 years for accounting purposes, but over 3 years for taxation purposes. The company tax rate is assumed to be 30% for the year ended 30 June 2024. Required 1. Prepare the current tax worksheet and the journal entry to recognise current tax at 30 June 2024. 2. Prepare the deferred tax worksheet and journal entry to recognise deferred tax and adjust the deferred tax accounts at 30 June 2024 3. Calculate the total for Income Tax Expense that Albury Ltd will need to report in the Statement of Profit or Loss and Other Comprehensive Income for the period 30 June 2024.