Problem
At the beginning of 2023, Carla Vista Corporation discovered that depreciation expense for equipment in the years prior to 2023 was incorrectly calculated and recorded. For the years before 2023, total depreciation expense of $172,000 was recorded, whereas correct total depreciation expense was $68,800. The tax rate is 30%. Carla Vista follows IFRS and the deferred taxes method of accounting for income taxes. Prepare Carla Vista's 2023 journal entry with respect to the depreciation expense that was recorded in the years before 2023.