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Question 10 8 pts Hunt Co. at the end of 2021, its first year of operations, prepared a reconciliation between pretax financial income and taxable

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Question 10 8 pts Hunt Co. at the end of 2021, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows: Pretax financial income 750,000 Estimated expenses deductible for taxes when paid 1,200,000 Extra depreciation (1.350.000) Taxable income _600,000 Estimated warranty expense of 800,000 will be deductible in 2022, 300,000 in 2023, and 100,000 in 2024. The use of the depreciable assets will result in taxable amounts of 450,000 in each of the next three years. Instructions (a) Prepare a table of future taxable and deductible amounts. (b) Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2021, assuming an income tax rate of 40% for all years

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