8 Use the following information to answer the next 6 questions. On January 1, 2021, a company purchased equipment for $210,000 The asset has a 3-year useful life and no residual value. For financial reporting, the asset is depreciated on a straight-line basis. For tax reporting, depreciation is $126,000 in 2021, $63,000 in 2022, and $21,000 in 2023 (based on MACRS). Taxable income in 2021 is 5323,000. There are no other differences between accounting and taxable income. The tax rate is 25% for all years. 8. Annual depreciation expense on the books in 2021 is 9. Income tax payable in 2021 is 10. The balance of the deferred tax account at the end of 2021 is 11. Income tax expense in 2021 is 12. Pretax accounting income in 2021 is . Net income in 2021 is