3. The flowing information is available for ABC Ltd, for 2014: (i) Excess of tax depreciation over book depreciation, TK40000. This TK 40000 difference will reverse equally over the years 2014-17, (ii) Deferral for book purposes of TK20000 D. T. At of rent received in advance. The rent will be earned in 2015 , (iii) Pretax financial income TK 300000 , (iv) Tax rate 25%. Required: (i) Taxable income 2014, (ii) Prepare joumal entry to record income tax expense, deferred income taxes, and income tax payable for 2014, (iii) Prepare journal entry to record income tax expense, deferred income tax, and income tax payable for 2015 assuming taxable income TK 325000