For the year ended December 31, 2021, Fidelity Engineering reported pretax accounting income of $1,016,000. Selected information for 2021 from Fidelitys records follows:

Required: 1. Determine the amounts necessary to record income taxes for 2021, and prepare the appropriate journal entry. 2. What is Fidelitys 2021 net income?

Interest income on municipal governmental bonds Depreciation claimed on the 2921 tax return in excess of depreciation on the income statement Carrying amount of depreciable assets in excess of their tax basis at year-end warranty expense reported on the income statement Actual warranty expenditures in 2021 $72,909 96,900 168,090 46,900 36,000 Determine the amounts necessary to record income taxes for 2021. (Enter your answers in thousands rounded to 1 decimal place. amounts to be deducted should be indicated with a minus sign.) Prepare the appropriate journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first accoun field. Round intermediate calculations to 2 decimal places. Enter your answers in thousands (i.e., 5, 500 should be entered as 5 .5).) Journal entry worksheet Note: Enter debits before credits. What is Fidelity's 2021 net income? (Round intermediate calculations to 2 decimal places. Enter your answers in thousands (i.e. 5,500 should be entered as 5.5).) Interest income on municipal governmental bonds Depreciation claimed on the 2921 tax return in excess of depreciation on the income statement Carrying amount of depreciable assets in excess of their tax basis at year-end warranty expense reported on the income statement Actual warranty expenditures in 2021 $72,909 96,900 168,090 46,900 36,000 Determine the amounts necessary to record income taxes for 2021. (Enter your answers in thousands rounded to 1 decimal place. amounts to be deducted should be indicated with a minus sign.) Prepare the appropriate journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first accoun field. Round intermediate calculations to 2 decimal places. Enter your answers in thousands (i.e., 5, 500 should be entered as 5 .5).) Journal entry worksheet Note: Enter debits before credits. What is Fidelity's 2021 net income? (Round intermediate calculations to 2 decimal places. Enter your answers in thousands (i.e. 5,500 should be entered as 5.5).)