I only need help with the last bit please, the ones that are wrong. ...

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Accounting

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I only need help with the last bit please, the ones that are wrong.

2027 Income Tax Expense 198400 Deferred Tax Asset 1660 Deferred Tax Llabllity 1980 Income Tax Payable 198080 eTextbook and Media List of Accounts Your answer is partially correct. Indicate how deferred taxes will be reported on the 2027 balance sheet. Cullumber's product warranty is for 12 months. CULLUMBER COMPANY Balance Sheet (Partial) For the Year Ended December 31, 2027 Non-Current Llabilltes Deferred Tax Llabllity eTextbook and Media List of Accounts The income tax rate for all years is 20%. Your answer is correct. Assuming there were no temporary differences prior to 2025, prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2025, 2026, and 2027. (List all debit entries before credit entries. 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 0 for the amounts. Record journal entries in the order presented in the problem.) Prepare the income tax expense section of the income statement for 2027, beginning with the line "Pretax financial income. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses eg. (45).)

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