USE THE FOLLOWING INFORMATION FOR #9 - 11: Lacy Corporation has the following information. Lacy Corporation has filed for bankruptcy and therefore has substantial doubt as to whether they will be able to generate a positive taxable income in 20x5 and forward. Taxable Income or (Loss) hoome or Tax Rate hate Year Tax Paid Tax 20x4 S (92,000) 21% T zero The journal entries required at the balance sheet date 20X4 are: Debit deferred tax asset and credit income tax epxense for 92,000 AND debit income taxe expense and allowance to reduce deferred tax asset to expected realizable value for 92,000 Debit deferred tax asset and credit income tax epxense for 19,320 AND debit income taxe expense and allowance to reduce deferred tax asset to expected realizable value for 19,320 Debit deferred tax asset and credit income tax epxense for 72,680 AND debit income taxe expense and allowance to reduce deferred tax asset to expected realizable value for 72,680 No journal entry is required. Question 10 2.5 pts The above entry has the following impact on retained earnings. increase decrease no impact Question 11 2.5 pts The above entry has the following impact on the asset section of the balance sheet. increase decrease no impact