Question 3 Cullumber Company has the following two temporary differences between its income tax expense and income taxes payable. -2072018 $820,000 $866,000 $952,000 2019 Pretax financial income Excess depreciation expense on tax return 28,700) 40,100) (10,300) Excess warranty expense in financlal income 19,000 10,200 7,600 Taxable income $810,300 $836,100 $949,300 The income tax rate for all years is 40%. Assuming there were no temporary differences prior to 2017, prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017,2018, and 2019. (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.) Account Titles and Explanation Debit Credit 2012 2018 2019 Indicate how deferred taxes will be reported on the 2019 balance sheet Cullumber's product warranty is for 12 months. Cullumber Company Balance Sheet eTextbook and Media List of Accounts Prepare the income tax expense section of the income statement for 2019, beginning with the line Pretax financial income." Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g Cullumber Company Income Statement (Partial)