230,000 Marik corporation began operations in 2020 and reported pretax financial income of for the year. Marik income tax rate is 75.00 % for all years. Marik uses accrual basis for accounting purposes and cash basis for tax purposes. During 2020 the following events and transactions occurred: Amount Recorded product warranty liability that is expected to be paid in 2021 24,000 19,200 Company sold goods FOB shipping point in December 2020 on account. Cash will be collected in 2021. Required: 1) Compute taxable income and income tax payable for 2020. 2) Prepare the journal entry to record income tax expense, deferred income taxes, and income tax payable for 2020. 3) Prepare the income tax expense section of the income statement for 2020, beginning with the line. "Income before income taxes". Use next sheet for your