Farmer Inc. began business on January 1, 2012. Its pretax financial income for the first 2 years was as follows:

	2012	$240,000
	2013	560,000

The following items caused the only differences between pretax financial income and taxable income.

1.	In 2012, the company collected $240,000 of rent; of this amount, $80,000 was earned in 2012; the other $160,000 will be earned equally over the 2013