Problem 1. Tax Provision. This problem involves the tax provision calculation for a company as of December 31, 2018. The company's Income Statement for 2018 is provided below: Statement of Operations at December 31, 2018 Net sales Cost of sales Gross profit Compensation Selling expenses Depreciation and amortization Other expenses Total operating expenses Income from operations Interest and other income Income before income taxes $ 20,000,000 12,000,000 $ 8,000,000 $ 500,000 750.000 1,250.000 1.000.000 $ 3,500,000 $ 4,500,000 25.000 $ 4,525,000 The company has permanent differences of $10,000 for interest from municipal bonds, $5,000 from non-deductible stock compensation, and $1,000 from non-deductible fines. With respect to temporary differences, the company prepared the following schedule: Taxable Temporary Differences Accumulated depreciation Temporary Difference Scheduling Template BOY Beginning Current Cumulative Deferred Year T/D Taxes (@21%) Change (5,000,000) (1,050,000) (500,000) EOY Cumulative T/D (5,500,000) Ending Deferred Taxes @ 21% (1,155,000) Deductible Temporary Differences Allowance for bad debts Prepaid income BOY Cumulative T/D $100,000 0 Beginning Deferred Taxes (@21%) $21,000 0 Current Year Change $10.000 20.000 EOY Cumulative T/D $110,000 20.000 Ending Deferred Taxes @ 21% $23,100 4.200 Deferred compensation Accrued pension liabilities 50,000 500,000 $650,000 10,500 105.000 $136,500 10,000 100.000 $140,000 60.000 600.000 $790,000 12,600 126,000 $165.900 Total Please answer the questions below based on your analysis of the information above. a. Compute the company's current income tax expense or benefit for 2018.|| b. Compute the company's total income tax provision for 2018