Zekany Corporation would have had identical income before taxes on both its income tax returns and income statements for the years 2016 through 2019 except for differences in deprecistion on an operational asset. The asset cost $220,000 and is depreciated for income tax purposes in the following amounts 2016 $72,600 2017 96,800 2018 33,000 2019 17,800 The operational asset has a four-year life and no residual value. The straight-line method is used for emounts before depreciation expense and income taxes for each of the four years were as follows 2016 2017 2018 2019 $120,00 unting income before taxes and de rocation $140,000 s130000 s13000 Assume the average and marginal income tax rate for 2016 and 2017 was 30%; however, during 2017 tax legislation was passed to raise the tax rate to 40% beginning n 2018. The 40% rate remaned neet through the years 2018 and 2019. Both the accounting and income tax periods end December 31 Required Prepare the joumal entries to record income taxes for the years 2016 through 2019. (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.) Answer is complete but not entirely correct Dec 31, 2016 Income tax expense 19,500 Deferred tax liability Income tax payable 5,280 14,220 2 Dec 31, 2017 Income tax expense 25.,550 Deferred tax lability Income tax payable 12,540 3 12.960 3 Dec 31, 2018 Income tax expense Deferred tax liability 30,000 8,800 Income tax payable 38.800