Prepare the income tax accrual assuming the tax rate is $20\%.$ The differences between book and tax are as follows:

Future deductible amounts: Warranty expense and vacation pay from parts $($b$)$ and $($c$).($Ignore the other adjusting

entries for this accrual$).$

Future taxable amount: Tax depreciation was $$240,000,$ whereas book depreciation was only $$40,000.$

Taxable income for $2022$ is $$1,471,614.$

There were no previous balances in the Deferred Tax Asset or Deferred Tax Liability accounts.Fall Corporation's capital structure consists of $500,000$ authorized shares of common stock, of which $100,000$

have been issued and are still outstanding. At December $31,2022,$ an analysis of the accounts and discussions

with company officials revealed the following information: