P QUESTION 3 Q3: (5 marks) ABC Company earned $100,000 operating income and $2,000 municipal bond interest this year. ABC purchased an art for $20,000 which is expend an for book purposes. Book depreciation was $5,000. ABC's tax rate is 35% Required (show calculations) 1. Compute ABC's book and tax income. 2. Compute ABC's tax expense per books and tax payable. 3. Determine the change in ABC's deferred tax accounts for the year. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 14px I. Click Save and Submit to save and submit. Click Save All Answers to save all answers. 16 17 acer