Your answer is correct. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2025. (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. List all debit entries before credit entries.) (c) Account Titles and Explanation Income Tax Expense Deferred Tax Asset Deferred Tax Liability Income Tax Payable eTextbook and Medla List of Accounts Your answer is partially correct. Debit 77100 18570 Credit 13080 82590 Attempts: 1 of 3 used Prepare the income tax expense section of the income statement for 2025, beginning with the line "Income before income taxes." (d) Income before Income Taxes Total Expenses Expan Deferred Net Income/ (Loss) eTextbook and Media List of Accounts Save for Later SHERIDAN COMPANY Income Statement (Partial) For the Year Ended December 31, 2025 82590 13080 263500 95670 $ 359170 Attempts: 2 of 3 used Submit Answe The parts of this question must be completed in order. This part will be available when you complete the part above. Sheridan Corporation reports pretax financial income of $263,500 for 2025. The following items cause taxable income to be different than pretax financial income: 1. Rental income on the income statement is less than rent collected on the tax return by $61,900. 2. Depreciation on the tax return is greater than depreciation on the income statement by $43,600. 3. Interest on an investment in a municipal bond of $6,500 on the income statement. Sheridan' tax rate is 30% for all years, and the company expects to report taxable income in all future years. There are no deferred taxes at the beginning of 2025. (a) Your answer is correct. Compute taxable income and income taxes payable for 2025. (b) Taxable income $ 275300 Income taxes payable $ 82590 eTextbook and Medla List of Accounts Your answer is correct. Attempts: 1 of 3 used Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2025.(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. List all debit entries before credit entries.) Account Titles and Explanation Income Tax Expense Deferred Tax Asse Deferred Tax Liability Income Tax Payable eTextbook and Media List of Accounts Debit 77100 18570 Credit 13080 82590 Attempts: 1 of 3 used