Chapter 16 HW 11.11 7 The information that follows pertains to Esther Food Products: a. At December 31, 2018, temporary differences were associated with the following future taxable (deductible) amounts: Depreciation points Prepaid expenses Warranty expenses $ 50,000 21,000 (18,000) eBook Hint Print b. No temporary differences existed at the beginning of 2018. c. Pretax accounting income was $71,000 and taxable income was $18,000 for the year ended December 31, 2018. d. The tax rate is 40%. Required: Complete the following table given below and prepare the appropriate journal entry to record income taxes for 2018. Complete this question by entering your answers in the tabs below. References Calculation General Journal Complete the following table given below to record income taxes for 2018. (Negative amounts should be entered with a minus sign.) x Tax Rate Tax $ Recorded as: Pretax accounting income Permanent differences $ 71,000 Income subject to taxation Temporary Differences 71,000 x = S 0 x Income taxable in current year $ 71,000 X < Calculation General Journal > Saved