Wicks Corporation began operations on January 1, 2013. At the end of 2013, Wicks reported pretax financial income of $60,000 and taxable income of $57,700, due to two temporary differences. The income tax rate is 30% for 2013 through 2015, but Congress has enacted a tax rate of 35% for 2016 and beyond. To determine its deferred taxes, Wicks prepared the following schedule of expected future taxable and deductible amounts for the two temporary differences:

Required:
1. Prepare Wicks's income tax journal entry at the end of 2013. Assume a valuation allowance is not required.
2. Prepare the lower portion of the 2013 income statement for Wicks.

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2014 2015 2016 2017 Future taxable amounts Future deductible amount $4,900 4,200 S $ 4,600 $4,100 (15,500)