I need help with the entries to the Trial Balance for below please:

• The company uses straight line depreciation for book and MACRS depreciation for the tax return
• MACRS depreciation was $209,301 higher than book. Prepare the adjusting entry for the

deferred tax. I had figured this was 118,575.25 but that is incorrect.

• There have been recent tax structure changes that could impact the company. Peyton Approved has been a C Corp since the beginning of these changes. Peyton provides for taxes at 25% of pretax income (20% Federal, 5% state).
• The company spent $50,000 to obtain and defend a patent for its formula for dog treats. The patent took effect on 1/1/20XX and provides 20 years of protection. The $50,000 amount was incorrectly charged to Misc. Expense

This appears to affect three area on the trial balance. How does this affect the Patent Amortization?

The adjusting entries should total 674,550.87, but I am not sure where my entries are incorrect. I feel all my entries are correct except the two items listed above.

See below: