Case Development began operations in December 2024. When property is sold on an installment basis, Case recognizes installment income for financial reporting purposes in the year of the sale. For tax purposes, installment income is reported by the installment method. 2024 installment income was $654,000 and will be collected over the next three years. Scheduled collections and enacted tax rates for 20252027 are as follows:

2025	$ 170,000	20%
2026	272,000	25
2027	212,000	25

Case also had product warranty costs of $131,000 expensed for financial reporting purposes in 2024. For tax purposes, only the $32,000 of warranty costs actually paid in 2024 was deducted. The remaining $99,000 will be deducted for tax purposes when paid over the next three years as follows:

2025	$ 35,000
2026	36,000
2027	28,000

Pretax accounting income for 2024 was $853,000, which includes interest revenue of $13,000 from municipal bonds. The enacted tax rate for 2024 is 20%.

Required:

Assuming no differences between accounting income and taxable income other than those described above, prepare the appropriate journal entry to record Cases 2024 income taxes.

What is Cases 2024 net income?