E19-3 (LO1,2) One Temporary Difference, Future Taxable Amounts, One Rate, Beginning Deferred Taxes Bandung Corporation provided the following concerning its income taxes for 2020 Balance in Deferred Tax Liability account, January 1, 2020 Cumulative temporary difference, December 31, 2020 To reverse evenly over the next 2 years Pretax accounting income for 2020 Taxable income for 2020 Income tax rate for all years Instructions: (a) Compute income taxes payable for 2020. $ 46,000 $ 350,000 $525,000 $405,000 20% (b) Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020 Future Years 2021 2022 Total Future taxable (deductible) amounts Tax rate Deferred tax liability (asset) Debit Credit (c) Prepare the income tax expense section of the income statement for 2020, beginning with the line "Income before income taxes"