Button Company has two differences between its taxable income and its financial statement reported income, so also between its tax expense and current taxes payable. Here is the information:

                                                                        2008        2009

Pretax financial statement income               $840,000      $910,000

Excess depreciation expense on tax return     (30,000) (40,000)

Excess warranty expense in financial statement income 20,000 10,000

Taxable income $830,000 $880,000 The income tax rate for both years is 40%.

Required: What is the income tax expense, the current tax liability and the deferred income tax liability and asset balances for 2008 year-end financial statements only.