Prepare a schedule starting with pretax financial income and compute taxable income

The records for Otaole Co, show this data for 2021: Gross profit on installment sales recorded on the books was $470.000. Gross profit from collections of installment receivables was $330.000. Life insurance on officers was $4,300. Machinery was acquired in January for $350.000. Straight-line depreciation over a ten-year life fno salvage value) is used. For tax purposes, MACRS depreciation is used and Oriole may deduct 14% for 2021. Interest received on tax exempt lowa State bonds was $9,500. The estimated warranty liability related to 2021 sales was $22,100. Repair costs under warranties during 2021 were $14.100. The remainder will be incurred in 2022. Pretax financial income is $650,000. The tax rate is 20% Prepare a schedule starting with pretax financial income and compute taxable income. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45).) Schedule of Pretax Financial Income and Taxable income for 2021