The Sting Company began operations at the beginning of 201 and had GAAP (book) Income of $350,000 and taxable Income of $280,000. Durling 20X1, depreclation expense for tax purposes exceeded GAAP (book) depreclation expense by $210,000, while warranty expense for GAAP (book) purposes exceeded warranty expense for tax purposes by $140,000. These two temporary differences will reverse as follows: The enacted Income tax rate for 201 and 202 is 21%, whlle the enacted Income tax rate for 203 and 204 is 25%. Sting did not make any Income tax payments during 201. Requirement: Prepare the Journal entry to record Income tax expense for the year ended December 31,201