1. The following information is available for the first two years of operations for Laface, Inc.: Year 2021 Earnings before Tax $1,200,000 2022 1,430,000 a. On July 1, 2021, the company received a rental income payment of $153,000 which covers 24 months. The unearned rent revenue portion is properly recorded on the books and the full amount is appropriately recognized in taxable income for the year ending December 31, 2021. b. The company has chosen to depreciate all of its fixed assets on an accelerated basis for tax purposes but on a straight-line basis for accounting purposes. The excess tax depreciation over book depreciation is 220,000 and will reverse equally over a two-year period, 2022-2023. c. In 2021, Laface insured the lives of its chief executives. The premiums of $24,000 are paid annually and included as an expense on the income statement. d. In 2021 the gross profit on the books was $320,000. For tax purposes the company uses the installment method recording $80,000 in 2021 and will record $130,000 in 2022 and $110,000 in 2023. e. Product warranty expense accrued for financial reporting was $65,000 in 2021. Actual warranties paid and deducted on the tax returns was $20,000 in 2021. The remainder will be paid $35,000 in 2022 and $10,000 in 2023.