As the new accountant for Orioles Pet Express inc., a line of pet boutiques you are develaping the financial statement disclusures for the $2023$ firrancial statement note on income taxes. The company uses ASPE, and has selected the taxes payable method. The statutory tax rate is currently $30\%$ During $2023,$ net income before tax was $5187,200.$ CCA exceded depreciation expense by $$27,600.$ The only pertanent differ ence was the nor$-$deductible portion of meals and entertainment costs, which was $50\%$ of $$20,200.$

$($a$)$

Determine the income tax experise to be recorded using the taxes payable method and recard the necescary jourral entry. $($List debit entry before credit entry. Credit account tities are autamatically indented wher the amount is entered. Do nat indent manuallh If no entry is required, select ${?}^{-}$No Entry ${?}^4$ for the account titles and enter $0$ for the amounts.$)$

Income tax experise $ $$

Account Titles and Explanation

Debit

Credit

Prepare the reconciliation of the actual tax rate to the statutory rate as required for inclusion in the financial statement note on income taxes. $($Round answers to $1$ decimal place, eg$.15\mathrm{.}2\%.$ Enter negative percentages using either a negative sign preceding the numbereg. $-45$ or parentheses e$.$g$.(45).)$

ORIOIE'S PET EXPRESSINC.

Statement of Reconcillation of Actual Tax Rate