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Help Save & Exit Sul 15 For the year ended December 31, 2021, Fidelity Engineering reported pretax accounting income of $1,052.000. Selected information for 2021 from Fidelity's records follows: $108,000 132,eee points Interest income on municipal governmental bonds Depreciation claimed on the 2021 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 240, eee 64,000 54, eee ( 8 01:48:11 Fidelity's income tax rate is 25%. At January 1, 2021, Fidelity's records indicated balances of zero and $27,000 in its deferred tax asset and deferred tax liability accounts, respectively. Required: 1. Determine the amounts necessary to record income taxes for 2021, and prepare the appropriate journal entry 2. What is Fidelity's 2021 net income? Complete this question by entering your answers in the tabs below. Required 1 Calculation Required 1 GJ Required 2 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.) Exclll 2 (en.lb and 18) 4-18-20 Help S. Journal entry worksheet 15 Record 2021 income taxes. points (8 01:47:51 Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry View general journal Clear entry Required 2 Required 1 Calculation Exam 2 (ch.16 and 18) 4-18-20 6 Saved Helps roemy Scome tax rate is 25%. Al January 1, ZUZI, riveny TCUIUS HIC Udidlices or zero and I asset and deferred tax liability accounts, respectively. Required: 1. Determine the amounts necessary to record income taxes for 2021, and prepare the appropriate journal entry. 2. What is Fidelity's 2021 net income? 12 points Complete this question by entering your answers in the tabs below. ( 8 01:47:42 Required 1 Calculation Required 1 G Required 2 What is Fidelity's 2021 net income? (Round intermediate calculations to 2 decimal places. Enter your answers in thousar (l.e., 5,500 should be entered as 5.5).) Net income (Required 1 GJ Required 2