Problem 19-4 The accounting records of Culver Inc. show the following data for 2017 (its first year of operations) 1. Life insurance expense on officers was $8,400. 2. Equipment was acquired in early January for $308,000 Straight-line depreciation over a s rear ife is used, with no savage value for tax purposes a ver used a 30% to calculate depreciation 3. Interest revenue on State of New York bonds totaled $4,400. 4. Product warranties were estimated to be $52,100 in 2017. Actual repair and labor costs related to the warranties in 2017 were $10,500. The remainder is estimated to be paid evenly in 2018 and 2019 5. Gross profit on an accrual basis was $97,000. For tax purposes, $78,900 was recorded on the installment-sales method. 6. Fines incurred for polution violations were $4,600 7, Pretax financial income was $710,100. The tax rate is 30%. Prepare a schedule starting with pretax financial income in 2017 and ending with taxable income in 2017. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses -9. (45)) Schedule of Pretax Financial Income and Taxable Income for 2017 Pretax financial income Permanent differences