question 64 a-d?

64. Timpanopos Inc. is an accrual method, calendar year corporation For 2021. it reported financial statement income after taxes of $1,342.000. Timpanogos provided the following information relating to its 2021 activities: di Table Summary Table summarizes information relating to activities. Columns and have no heading Life insurance proceeds as a result of CEO's death $ 200.000 Revenue from sales (for both book and tax purposes) 2,000,000 Premiums paid on the key person life insurance policies. The policies have no cash surrender value 21.000 Qualified charitable contributions 180,000 Cost of goods sold for book and tax purposes 300,000 Interest income on tax exempt bonds 40,000 Interest paid on loan obtained to purchase tax exempt bonds 45.000 Rental income payments received and earned in 2021 15.000 Rental income payments received in 2020 but earned in 2021 10.000 Rental income payments received in 2021 but not earned by year end 30.000 Thx depreciation 55.000 Book depreciation 25.000 Net capital loss 42.000 310.000 Federal income tax expense for books in 2021 Required: a) Reconcile book income to taxable income for Timpanogos Inc Be sure to start with book income and identify all of the adjustments necessary to arrive at taxable income b) Identify each book-tax difference as either permanent or temporary Pare 1640 c) Complete Schedule M 1 for Timpanogos d) Compute Timpanopos Inic's tax liability for 2021