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For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: Pretax accounting income Permanent difference $ 300,000 (15,000) 285,000 (20,000) $ 265,000 Temporary difference-depreciation Taxable income Tringali's tax rate is 25%. Assume that no estimated taxes have been paid. 34. What should Tringali report as income tax payable for its first year of operations? A) $75,000. B) $71,250. C) $66,250. D) $5,000. 35. What should Tringali report as its deferred income tax liability as of the end of its first year of operations? A) $35,000. B) $20,000. C) $8,750 D) $5,000. 36. What should Tringali report as its income tax expense for its first year of operations? A) $75,000 B) $66,250. C) $71,250 D) $5,000