draulieuts #vis ead) Dean Co, at the end of 20x! its first year of operations, prepare financial income and taxable income as follows: a reconciliation between pretax Pretax financial income S.100.000 Estimated litigation expense 800,000 Depreciation on tax in excess of FS 450,000) N 2012 30 Taxable income $750,000 80,000 The income tax rate is 21% for all years. Prepare the journal entry for 20x1 to recognize the income tax expense, payable and any tax assets or liabilities. Income Tax Exp (900, Give an example of an item that would cause a permanent difference between financial statemen et income and taxable income. Choose one item and explain it in the format below. Be specifi credit