Question 7 of 7

Question 7 Of 7 - / 28 Current Attempt Progress Cheyenne Company began operations at the beginning of 2021. Thc following information pertains to this cornoari' 2 3. Pretax financial income Ior 2021 is $88,000. The tax rate enacted for 2021 and future years's 20%. Differences betweg:n the 2021 income statern.cnt and are 'Isted below: Warranty expense accrued for financial reporting purposes amounts tn $7.700 Warranty deductions per thc tax amount Gross profit on cow.truction contracts using the method ger a,mcunts to Gross profit on for t" to 565,900, Depreciation of property. plant. and Depreciation of these assets amounts to S 77.000 for the return. A 9.400 fine paid for Violation Of pollution deducted in camputing pretax Ir.terest revenue recognized on an investment in tax-exempt municipal bonds amounts to S IA(X). 'S expected the next (Assume i' shor't-term nature; long-term nature.)