LO.2 Sing-Li, Inc., an accrual basis C corporation, sells widgets on credit. Its book and taxable income for year 1 totals $42,000, before accounting for bad debts. Sing-Li’s book allowance for uncollectible accounts increased for year 1 by $12,000, but none of the entity’s bad debts received a specific write-off for tax purposes. The applicable income tax rate for year 1 and thereafter is 30%. Compute Sing-Li’s year 1 current and deferred income tax expense.