Your answer is correct. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2016. (Credit account titles are automatically indented when 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.) Account Titles and Explanation Debit Credit Income Tax Expense Deferred Tax Asset | Income Tax Payable 1 - 121380 16354 1 Deferred Tax Liability Click if you would like to show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Indicate how deferred income taxes will be reported on the balance sheet at the end of 2016. Sweet Corporation Balance Sheet December 31, 2016 IT Current Assets Deferred Tax Liability 1 20504| Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT