6. The records for Montana Inc. show the following data for calendar 2014: 0 Gross prot on instalment saies recorded on the books was $200,000 (accounting income). Gross prot from collections of instalment receivables was $150,000 (taxable income). - Golf club dues were $3,800. 0 Machinery was acquired in January 2014 for $300,000. Montana uses straightline depreciation over a ten-year life (no residual value). For tax purposes, Montana claimed CCA of $42,000. - Dividends received from a Canadian corporation were $9,000. These dividends are non-taxabie. - The estimated warranty liability related to 2014 sales was $19,600. Warranty repair costs paid during 2014 were $13,600. The remainder will be paid in 2015. - Pretax accounting income is $250,000. The enacted income tax rate is 25%. Required: (6 Marks) a. Prepare a schedule (starting with pre-tax accounting income) to calculate taxable income. b. Prepare the required adjusting journal entries to record income taxes for 2014. Be sure to show all supporting calculations. Assume there were no previously existing deferred tax assets/liabilities