Fabio Corporation’s income statement showed the following data for 2009 and 2010:

On the balance sheet, deferred income taxes liability increased by $38,400 in 2009 and decreased by $18,800 in 2010.

1. How much did Fabio actually pay in income taxes for 2009 and 2010?

2. Prepare entries in journal form to record income taxes expense for 2009 and 2010.

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2009 2010 Income before income taxcs Income taxes cxpensc Net income $280,000 $280,000 88,300 88,300 $191,700 $191,700