For the year ended December 31,2021 , Fidelity Engineering reported pretax accounting Income of $1,012,000. Selected Information for 2021 from Fidelity's records follows: Fidelity's income tax rate is 25\%. At January 1, 2021, Fidelity's records Indlcated balances of zero and $17,000 In its deferred tax asset and deferred tax liability accounts, respectlvely. Required: 1. Determine the amounts necessary to record income taxes for 2021 , and prepare the approprlate joumal entry. 2. What is Fidelity's 2021 net Income? Complete this question by entering your answers in the tabs below. 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.) Complete this question by entering your answers in the tabs below. Prepare the appropriate journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account 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 betore cred ts. Complete this question by entering your answers in the tabs below. 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).)