Complete the following questions. In addition to answering the items below, you must submit an analysis of the assignment. Analyze the specific outcomes and write an analysis directed toward the team at Geyser Company describing what the numbers mean and how they relate to the business. Submit journal entries in an Excel file and written segments in an MS Word document. For written answers, please make sure your responses are well- written, formatted per CSU-Global Guide to Writing and APAe and have proper citations, where applicable. Geyser Company began operations in 2017 and has provided the following information. 1. Pretax financial income for 2017 is $200,000 2. The tax rate enacted for 2017 and future years is 40%. 3. Differences between the 2017 income statement and tax return are listed below: a. Warranty expense accrued for financial reporting purposes amounts to $10,000. Warranty deductions per the tax return amount to $4,000 amounts to $184,000. Gross profit on construction contracts for tax purposes amounts to $124,000. Depreciation of these assets amounts to $80,000 for the tax return b. Gross proft on construction contracts using the percentage-of-completion method for book purposes c. Depreciation of property. plant, and equipment for financial reporting purposes amounts to $60,000. d. A $3,500 fine paid for violation of pollution laws was deducted in computing pretax financial income. e. Interest revenue earned on an investment in tax-exempt municipal bonds amounts to $1,400. 4. Taxable income is expected for the next few years. Provided with this assignment is the Excel workbook containing the spreadsheets you will need for this exercise. Use the spreadsheet Journal Entries to prepare the journal entry to record income tax expense, deferred taxes, and income taxes payable for 2017 Draft the income tax expense section of the income statement, beginning with "Income before income taxes. Prepare the journal entries to record transactions as required Journal Entries tax related transactions Credit Debit 8Date Transactions and Accounts 10 12 13 14 15 16 17 18 19 20 21 Provide a one line explanation for the reason why the journal entry has been made. You may add as many rows as needed to prepare your journal entries. 25 26 27 28 Date 29 30 31 32 Journal Entries tax related transactions Debit Transactions and Accounts Credit 36 37 38 39 40 41 Provide a one line explanation for the reason why the journal entry has been made. Income Statement-Tax Expense Amounts Income before Income Tax