Windsor Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July 31, 2021. The following information has been taken from the adjusted trial balance: Accounts payable $26,000 Cash dividends-common 56,500 Interest expense Notes payable $4,500 112,500 Common shares 200,000 Cost of goods sold 312,000 Retained earnings (Aug. 1, 2020) Salaries expense 336,500 144,500 Dividends payable 15,400 Sales 671,000 Income tax expense 29,000 Supplies expense 11,500 Income tax payable 2,500 Unearned revenue 12,600 All accounts have normal balances and total assets equal $818,500. Windsor has a 20% income tax rate. Prepare a multiple-step income statement. WINDSOR INC. Income Statement Prepare required journal entry to adjust income tax expense. (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) Date Account Titles and Explanation July 31 (To record income tax expense.) Debit Credit