Wildhorse Limited had investments in securities on its SFP for the first time at the end of its fiscal year ended December 31, 2023. Wildhorse reports under IFRS and its investments in securities are to be accounted for at fair value through net income. During 2023, realized losses and gains on the trading of shares and bonds resulted in investment income, which is fully taxable in the year. Wildhorse also accrued unrealized gains at December 31, 2023, which are not taxable until the investment securities are sold. The portfolio of trading securities had an original cost of $349,250 and a fair value on December 31, 2023, of $353,050. The entry recorded by Wildhorse on December 31, 2023, was as follows: FV-NI Investments 3,800 Investment Income or Loss 3,800 Income before income tax for Wildhorse was $271,000 for the year ended December 31, 2023. There are no other permanent or reversing differences in arriving at the taxable income for Wildhorse for the fiscal year ended December 31, 2023. The enacted tax rate for 2023 and future years is 30%. (b) (c) Calculate the deferred tax balance at December 31, 2023. Deferred tax eTextbook and Media List of Accounts Save for Later Calculate the current income tax for the year ended December 31, 2023. (d) Current income tax eTextbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit Answer Attempts: 0 of 2 used Submit Answer Prepare the journal entries to record income taxes for 2023. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (e) Year Account Titles and Explanation 2023 2023 (To record current tax expense) (To record deferred tax expense) eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 2 used Submit Answer Prepare the income statement for 2023, beginning with the line "Income before income tax." WILDHORSE LIMITED (Partial) Income Statement eTextbook and Media List of Accounts Save for Later $ $ $ Attempts: 0 of 2 used Submit