For the year ended December 31, 2024, Fidelity Engineering reported pretax accounting income of $1,048,000. Selected information for 2024 from Fidelity's records follows: Interest incose on municipal governmental bonds Depreciation clained on the 2024 tax return in excess of depreciation on the income statenent 128,000 Carrying amount of depreciable assets in excess of their tax basis at year-end 232,000 Warranty expense reported on the income statenent Actual warranty expenditures in 2024 62,000 Fidelity's income tax rate is 25%. At January 1, 2024, Fidelity's records indicated balances of zero and $26,000 in its deferred tax asset and deferred tax liability accounts, respectively. Required: 1. Determine the amounts necessary to record income taxes for 2024 , and prepare the appropriate journal entry. 2. What is Fidelity's 2024 net income? Complete this question by entering your answers in the tabs below. Determine the amounts necessary to record income taxes for 2024. Note: Enter your answers in thousands rounded to 1 decimal place. Amounts to be deducted should be indicated with a minus sign. Journal entry worksheet Note: Enter debits before credits. What is Fidelity's 2024 net income? Note: Round intermediate calculations to 2 decimal places. Enter your answers in thousanc 5.5).)