Problem 19-4 The accounting records of Pronghorn Inc. show the following data for 2017 (its first year of operations). 1. Life insurance expense on officers was $8,500. 2. Equipment was acquired in early January for $312,000. Straight-line depreciation over a 5-year life is used, with no salvage value. For tax purposes, Pronghorn used a 30% rate to calculate depreciation 3. Interest revenue on State of New York bonds totaled $3,700. 4. Product warranties were estimated to be $51,800 in 2017. Actual repair and labor costs related to the warranties in 2017 were $9,400. The remainder is estimated to be paid evenly in 2018 and 2019 5. Gross profit on an accrual basis was $93,000. For tax purposes, $73,400 was recorded on the installment-sales method. 6. Fines incurred for pollution violations were $4,300. 7. Pretax financial income was $717,700. 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 e.g. (450.) Pr chedule ax nan ncome and Taxable Income for 2017 Pretax financial income Permanent differences Temporary differences Taxable income