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The pre-tax income statements for Moonstone Ltd. for two years (summarized) were as follows: Revenues Expenses Pre-tax income 20x8 $294,000 195,000 $ 99,000 20x9 $358,000 251,000 $107,000 For tax purposes, the following income tax differences existed: a. Revenues on the 20x9 statement of profit and loss include $51,000 rent, which is taxable in 20X8 but was unearned at the end of 20X8 for accounting purposes. b. Expenses on the 20X9 statement of profit and loss include political contributions of $19,500, which are not deductible for income tax purposes. c. Expenses on the 20X8 statement of profit and loss include $22,300 of estimated warranty costs, which are not deductible for income tax purposes until 20X9. Required: 1. What was the accounting carrying value and tax basis for unearned revenue and the warranty liability at the end of 20X8 and 20x9? (Leave no cells blank - be certain to enter "O" wherever required.) Year 20X8 20X9 Warranty Unearned Rent Warranty Unearned Rent Accounting carrying value Next Required: 1. What was the accounting carrying value and tax basis for unearned revenue and the warranty liability at the end of 20X8 and 20X9? (Leave no cells blank - be certain to enter "0" wherever required.) Year 20X8 20X9 Unearned Rent Warranty Unearned Rent Warranty Accounting carrying value Tax basis 2. Compute (a) income tax payable. (b) deferred income tax, and (c) income tax expense for each period. Assume a tax rate of 30%. (Amounts to be deducted should be indicated by a minus sign.) 20X8 20X9 a. Income tax payable b Deferred income tax C Total income tax expense 3. Give the entry to record income taxes for each period. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the entry for current and deferred tax expense. Note: Enter debits before credits. Debit General Journal Transaction Credit 20x8 4. Complete statements of profit and loss to include income taxes expense. Statement of Profit and Loss 20x8 20X9 Revenues $ 294,000 $ 358,000 195,000 251,000 99,000 107.000 Expenses Earnings before tax Income tax expense Net earning (Loss) $ 99 000 $ 107,000 5. What amount of deferred income tax will be reported on the statement of financial position at each year-end? Statement of Financial Position Non-current asset 20X8 20X9