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The accouriting records of Culver Inc. show the following data for 2025(its first year of...

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Accounting

The accouriting records of Culver Inc. show the following data for 2025(its first year of operations).
Life insurance expense on officers was $8,800.
Equipment was acquired in early January for $323,000. Straight-line depreciation over a 5-year life is used, with no salvage value. For tax purposes, Culver used a 30% rate to calculate depreciation.
Interest revenue on State of New York bonds totaled $3,700.
Product warranties were estimated to be $48,400 in 2025. Actual repair and labor costs related to the warranties in 2025 were $9,000. The remainder is estimated to be paid evenly in 2026 and 2027.
Gross profit on an accrual basis was $104,000. For tax purposes, $78,500 was recorded on the installment-sales method.
Fines incurred for pollution violations were $4,100.
Pretax financial income was $785,300. The tax rate is 30%.
Schedule of Pretax Financial Income and Taxable Income for 2025
Pretax financial income $
Permanent differences
$
Temporary differences
$
Taxable income
$
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