The Delcampo Corporation reported the following accounting profit before income taxes, income taxes expense, and net profit for \(20 \times 2\) and \(20 \times 3\) :

Also, on the balance sheet, deferred income taxes liability increased by 38,400 in \(20 \times 2\) and decreased by 18,800 in \(20 \times 3\).
1. How much did Delcampo Corporation actually pay in income taxes for \(20 \times 2\) and \(20 \times 3\) ?
2. Prepare journal entries to record income taxes expense for \(20 \times 2\) and \(20 \times 3\).
LO 4 Earnings per Share

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Accounting profit before taxes Income taxes expense 280,000 Net profit 20x3 20x2 280,000 88,300 88,300 191,700 191,700