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In: Accounting2018 Pretax Accounting Income: $600,0002018 Municipal Bond Interest Income Recognized in Pretax AccountingIncome: $10,0002018...2018 Pretax Accounting Income: $600,0002018 Municipal Bond Interest Income Recognized in Pretax AccountingIncome: $10,0002018 Warranty Expense of $40,000 for Accounting Purposes2018 Actual Warranty Costs Incurred were $30,000December 31, 2018 Warranty Liability is $10,0002018 Installment Sales Included in Pretax Income Totaled$150,0002018 Installment Sales for Tax Purposes Totaled $100,000December 31, 2018 Installment Receivable was $50,000 (to becollected equally in 2019/20)Federal Fines Included Against Pretax Income totaled $20,000All Fixed Assets Purchased Prior to January 1, 2018 were FullyDepreciated at 12/31/17Fixed Assets purchased on January 1, 2018 for$150,000. Estimated Life is 4 YearsDepreciation for Accounting Purposes is Straight LineDepreciation for Tax Purposes for 4 Year Assets is 50%, 30%, 10%,and 10%Federal Tax Rate is 20%What is the taxable income for the year ended December 31,2018?What is the current/deferred tax journal entry to necessary atDecember 31, 2018?