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please show work. Problem 4 (6 points) Edge Co. at the end of 2020, its first year of operations, prepared a reconciliation between prelax financial

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Problem 4 (6 points) Edge Co. at the end of 2020, its first year of operations, prepared a reconciliation between prelax financial income and taxable income as follows: Pretax financial income $ 750,000 Estimated warranty expenses deductible for taxes when paid 1.200,000 Extra depreciation (1.500.000 Taxable income S_450.000 Instructions a. Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020, assuming an income tax rate of 30% for all years. b. Prepare the income tax expense section of the income statement for 2020, beginning with the line "Income before income taxes" and ending with "Net Income". RISON

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