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Wyhowski Inc. reported income from operations, before taxes, for 2015-2017 as follows: 2015 $473,000 2016 2017 541,000 634,000 When calculating income, Wyhowski deducted depreciation on

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Wyhowski Inc. reported income from operations, before taxes, for 2015-2017 as follows: 2015 $473,000 2016 2017 541,000 634,000 When calculating income, Wyhowski deducted depreciation on plant equipment. The equipment was purchased January 1, 2015, at a cost of $196,000. The equipment is expected to last three years and have a(n) $16,000 salvage value. Wyhowski uses straight-line depreciation for book purposes. For tax purposes, depreciation on the equipment is $113,000 in 2015, $45,000 in 2016, and $22,000 in 2017. Wyhowski's tax rate is 35%. Required: Enter all amounts as positive numbers. 1. How much did Wyhowski pay in income tax each year? If required, round all calculations to the nearest dollar. Year Taxes Paid 2015 2016 2017 2. How much income tax expense did Wyhowski record each year? Year Income Tax Expense 2015 2016 2017 $ 3. What is the balance in the Deferred Income Tax account at the end of 2015, 2016, and 2017? If your answer is zero, enter "O". If required, round all calculations to the nearest dollar. Year Balance Debit or Credit 2015 2016 2017

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