03. Company ABC has accounting income $500 for year 2016, 2017 and 2018, with following balance 2015 2016 2017 2018 Accounts Payable 100 110 120 90 Unearned Revenue 100 50 30 0 Prepaid Expense Accounts Receivable 100 110 80 100 100 80 40 0 What are the taxable income for 2016, 2017 and 2018? Prepare all related JEs for these three years 02. Company ABC bought an equipment for $20,000 in 2015, with useful life of 5 years $5,000 residual value amortized using straight-line method. Assume ABC has $3,000 income before taxes for each of the year and 30% tax rate Prepare a table to illustrate the differences accounting income vs taxable income caused by this equipment. Assume, this equipment was sold at the end of 2017 for $11,000. Please prepare JEs for 2015, 2016 and 2017 a) b)