What amount should be reported in its 2011 income statement

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Mitchell Corporation prepared the following reconciliation for its first year of operations:

Pretax financial income for 2011$900,000
Tax exempt interest(75,000)
Originating temporary difference(225,000)
Taxable income$600,000
The temporary difference will reverse evenly over the next two years at an enacted tax rate of 40%. The enacted tax rate for 2011 is 35%.

What amount should be reported in its 2011 income statement as the deferred portion of income tax expense?

In Mitchell's 2011 income statement, what amount should be reported for total income tax expense?

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