Pronghorn Company has the following two temporary differences between its income tax expense and income taxes payable. 2020 2021 2022 Pretax financial income $828,000 $887,000 $901,000 Excess depreciation expense on tax return (30,500) (40,200) (10,100) Excess warranty expense in financial income 20,700 10,500 8,100 Taxable income $818,200 $857,300 $899,000 The income tax rate for all years is 20%. (a) Your answer is correct. Assuming there were no temporary differences prior to 2020, prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020, 2021, and 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Iccount Titles and Explanation Debit Credit 2020 Income Tax Expense 165600 Deferred Tax Asset 4,140 Income Tax Payable 163640 Deferred Tax Liability 6100 2021 Income Tax Expense 177400 Deferred Tax Asset 2100 Income Tax Payable 171460 2021 Income Tax Expense 177400 Deferred Tax Asset 2100 Income Tax Payable 171460 Deferred Tax Liability 8040 2022 Income Tax Expense 180200 Deferred Tax Asset 1620 Income Tax Payable 179800 Deferred Tax Liability 2020 e Textbook and Media List of Accounts Attempts: 1 of 2 used .) Your answer is partially correct. Indicate how deferred taxes will be reported on the 2022 balance sheet. Pronghorn's product warranty is for 12 months. Pronghorn Company Balance Sheet (Partial) December 31, 2022 Current Assets Deferred Tax Asset $ 7860