(20 points) You are the accountant for ncome taxes. Pretax financial income (i.e., pretax ate equals 35%. Ther income. ADO Corporation, and you have to prepare the journal entry for GAAP income) is $520,000, and the tax e are three differences between taxable income and pretax financial 1. A reversing difference due to depreciation, which is $30,000 greater on our books than on our tax return. 2. Life insurance premiums (paid) of $4,500 3. Warranties accrued on the books exceed warranties paid on our tax return by $18,000 nstructions (a) Compute taxable income. Clearly list all differences between pretax financial and taxable income and indicate whether they are permanent or temporary Prepare the journal entry to record income taxes. (b) 520 000 e (30, ooo 4,soo