3. Given the information as shown below to calculate the GAAP income statement and the tax income statement for Oh So Slow Horse Farm. What is the amount of Tax for 2021? For the GAAP statement show Profit Before Tax and Profit After Tax using the actual amount of tax you calculate. In 2021 the business purchased $300,000 of depreciable equipment with a 10 year GAAP life and zero salvage value. The business took the 100% bonus depreciation option for tax purposes. The tax rate is 21%. Work to nearest whole $ (15 pts) Oh So Slow Horse Farm GAAP 2021 gb Race Winnings 7,250,000 Total Revenue 7,250,000 blow Race Entry Fees 500,000 Jockey Fees Sectio Repair of equipment 1,500,000 375,000 Stable Hands 1,300,000 Feed etc for horses 750,000 Veterinarian Fees 125,000 Senatoral Campaign Contribution 45,000 Entertainment of Customers 275,000 same for I Depreciation (not new equipment) Depreciation new 525,000 Should be there moldest boas