Wicks Corporation began operations on January 1, 2019. At the end of 2019, Wicks reported pretax financial income of $59,200 and taxable income of $59,230, due to two temporary differences. The income tax rate is 25% for 2019 through 2021, but Congress has enacted a tax rate of 35% for 2022 and beyond. To determine its deferred taxes, Wicks prepared the following schedule of expected future taxable and deductible amounts for the two temporary differences: 2020 2021 2022 2023 Future taxable amounts $4,500 $4,100 $5,000 $3,800 Future deductible amount (15,200) Required: 1. Prepare Wickss income tax journal entry at the end of 2019. Assume a valuation allowance is not required. 2. Prepare the lower portion of the 2019 income statement for Wicks.