Arlington Co. reported income before income taxes of $10,000,000 for the year ending December 31, 2021. You learned the following related to the company's income taxes: - Tax depreciation will be $500,000 more than GAAP depreciation. -The company received a customer deposit in December 2021 for work to be started and completed next year. The deposit was $125,000, which is taxable when received. The company discovered an issue with hazardous waste which it reported (as required) to the federal EPA. A line of $1,200,000 was paid. Fines are not tax deductible. - Of the $10 millions of income before tax, 5875,000 was earned in an enterprise zone and is not subject to federal tax. (Not this year and not in the future, either.) The company spent $250,000 on meals and entertainment expense, half of which is not tax deductible (this may be different from current tax regulations, but this isn't a tax course so assume that is correct). -The federal statutory tax rate is 21%, there are no other taxes that need to be considered. Required: For all responses, put your answer in the box provided below. Show your work on the spreadsheet, the answer alone is not sufficient. - Caculate the company's tax provision/expense for the year 2021. - Calculate the company's tax liability for the year 2021. - Calculate any deferred tax assets the company should record (in total, no detail). - Calculated any deferred tax liabilities the company should record (in total, not deail). - Reconcile the company's effective tax rate to the statutory rate of 21% (show you calculations to a tenth of a percent, as 21.0%). Tax provision/expense Tax liability (taxes payable) Deferred tax asset(s) Deferred tax liability(ies) = Effective tax rate reconciliation Feceral statutory rate 21.0%