Venus Corp.'s worksheet for calculating current and deferred income taxes for year 1 follows: Year 1 Year 2 Year 3 Pretax income $1,400 Temporary differences: Depreciation (800) $(1,200) $2,000 Warranty costs 400 (100) (300) Taxable income $1,000 Enacted rate 30% 30% 25% Deferred tax accounts Asset Liability Current $ (30) Noncurrent (before netting) $(75) $ 140 Deferred tax accounts b (($300) 25%] [($1,200) 30%] + [$2,000 x 25%] Venus had no prior deferred tax balances. In its year 1 income statement, what amount should Venus report as current income tax expense? $350 O $420 $300 O $0