Vaughn Corporation has one temporary difference at the end of 2017 that will reverse and cause taxable amounts of $58,100 in 2018, 562,900 in 2019, and $68,000 in 2020. Vaughn's pretax financial income for 2017 is $320,800, and the tax rate is 40% for all years. There are no deferred taxes at the beginning of 2017. Compute taxable income and income taxes payable for 2017. Taxable income Income taxes payable Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017. (Credit account titles are automatical entered. Do not indent manually. If no entry is required, select "No Entry for the countries and enter for the amounts.) Account Tities and Explanation Debit Prepare the income tax expense section of the income statement for 2017, beginning with the line Income before income taxes.(Enter loss using either a negative sign preceding the number e.g.-45 or parentheses .g. (45).) Vaughn Corporation Income Statement Partial) MXX WC Army U E PUEY Turu CALCULATOR STANDARD VIEW PRINTER VERSION Account Titles and Explanation Debit Prepare the income tax expense section of the income statement for 2017, beginning with the line "Income before income taxes. (Enter less using after a negative sign prec number e.g. -45 or parentheses ... (45).) Vaughn Corporation Income Statement Partial) Click if you would like to Show Work for this question: Open Show Work