1) Raninu Company reports pretax financial income of $85,280 for 2019. The following items cause taxable income to be different from pretax financial income.

a.Depreciation on the income statement by $20,620.

b.Unearned rent revenue is $22,390.

c.Fines of $12,900 have been deducted on the income statement.

The Raninu tax rate is 43%.

A.Compute the Income Taxes Payable

B.Prepare the journal entry

C.Prepare the Income Tax Expense section of the Income statement, beginning with "Income Before Income Taxes".