(TCO B) Venus Corp.'s worksheet for calculating current and deferred income taxes for Year 1 follows:

Year 1 Year 2 Year 3

Pretax income $1,400

Temporary differences:

Depreciation (800) (1,200) $ 2,000

Warranty costs 400 (100) (300)

Taxable income $ 1,000 (1,300) 1,700

Loss carryback (1,000) 1,000

Loss carryforward 300 (300)

$ 0 $ 0 $ 1,400

Enacted rate 30% 30% 25%

Venus had no prior deferred tax balances. In its Year 1 income statement, what amount should Venus report as: Current income tax expense?

a) $420

b) $350

c) $300

d) $0