Question (b) Taxable income for 2017

Exercise 19-16 (Part Level Submission) During 2017, Culver Co.'s first year of operations, the company reports pretax financial income at $226,100. Culver's enacted tax rate is 45% for 2017 and 4096 for all later years. Culver expects to have taxable income in each of the next 5 years. The effects on future tax returns of temporary differences existing at December 31, 2017, ae summarized as follows Future Years 20182019 2020 2021 2022_Total Future taxable (deductible) amounts: Installment sales Depreciation Unearned rent 30,100 $30,100 $30,100 90,300 5,500 5,500 5,500 $5,500 $5,500 27,500 (51,800) (51,800) (103,600)