Beamer Inc., provided the following information for the current year 2019: Accounting income (pre-tax) in 2019 is $37 million. 2019 interest income on municipal bonds is $1 million Depreciation is reported on the income statement by the straight-line method on an asset with a four-year useful life. MACRS is used for the tax return. Income statement: $50 million each year. Tax Return: 2017 $66 million; 2018 $88 million; 2019 $30 million; 2020 $16 million. Warranty expense for 2019 was $16 million and cash paid for warranties in 2019 was $6 million and the remainder is expected to be paid equally in 2020 and 2021. Additional information: 1) the Deferred Tax Asset balance at January 1, 2019 is $-0-; 3) the Deferred Tax Liability balance at January 1, 2019 is $18.2 million; and 4) Income Tax Payable has no beginning balance. Income tax rate is 40% up through 2019 but a 30% tax rate is enacted into law beginning 2020. Any Deferred Tax Assets are expected to be fully realized. Requirements: Answer each question: you must show and label all supporting computations in order to receive full credit even if your final answer is correct! A. Prepare a schedule, as shown in homework modules, to show the tax effects for the information provided above. B. Prepare the journal entry to record income taxes for 2019. C. Prepare a 2019 partial income statement, in good form and as shown in homework modules, with the accompanying note disclosure information as shown in class. D. Prepare a 2019 partial balance sheet, in good form and as shown in homework modules. Beamer Inc., provided the following information for the current year 2019: Accounting income (pre-tax) in 2019 is $37 million. 2019 interest income on municipal bonds is $1 million Depreciation is reported on the income statement by the straight-line method on an asset with a four-year useful life. MACRS is used for the tax return. Income statement: $50 million each year. Tax Return: 2017 $66 million; 2018 $88 million; 2019 $30 million; 2020 $16 million. Warranty expense for 2019 was $16 million and cash paid for warranties in 2019 was $6 million and the remainder is expected to be paid equally in 2020 and 2021. Additional information: 1) the Deferred Tax Asset balance at January 1, 2019 is $-0-; 3) the Deferred Tax Liability balance at January 1, 2019 is $18.2 million; and 4) Income Tax Payable has no beginning balance. Income tax rate is 40% up through 2019 but a 30% tax rate is enacted into law beginning 2020. Any Deferred Tax Assets are expected to be fully realized. Requirements: Answer each question: you must show and label all supporting computations in order to receive full credit even if your final answer is correct! A. Prepare a schedule, as shown in homework modules, to show the tax effects for the information provided above. B. Prepare the journal entry to record income taxes for 2019. C. Prepare a 2019 partial income statement, in good form and as shown in homework modules, with the accompanying note disclosure information as shown in class. D. Prepare a 2019 partial balance sheet, in good form and as shown in homework modules