Taxable income and pretax financial income would be identical for Jiang Group except for its treatments of gross profit on installment sales and estimated costs of warranties. The following income computations have been prepared (amounts in thousands).

The tax rates in effect are 2018, 45%; 2019 and 2020, 40%. All tax rates were enacted into law on January 1, 2018. No deferred income taxes existed at the beginning of 2018. Taxable income is expected in all future years.
Instructions
Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2018, 2019, and 2020.

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Taxable income 2018 2019 2020 Excess of revenues over expenses (excluding two temporary differences) ¥160,000 ¥210,000 ¥90,000 8,000 8,000 Installment income collected 8,000 Expenditures for warranties (5,000) (5,000) (5,000) Taxable income ¥163,000 ¥213,000 ¥93,000 Pretax financial income 2018 2019 2020 Excess of revenues over expenses (excluding two temporary differences) ¥160,000 ¥210,000 ¥90,000 Installment gross profit earned -0- 24,000 -0- -0- -0- Estimated cost of warranties (15,000) $169,000 $210,000 $90,000 Income before taxes