Refer to Exercise 18-9 on page 18-52 of your textbook and make the following change: the attached image is exercise 18-9. For item 2, assume there are environmental fines of $25,000 (a permanent difference) instead of a $50,000 loss contingency (a temporary difference). Rather than following the instructions in the textbook, do the following instead (show calculations and prepare journal entries in good form). 1. Record the journal entry for income taxes on December 31, 2024. Financial income for 2024 is $700,000. 2. Record the journal entry for income taxes on December 31, 2025. Assume that the depreciation reverses $30,000 in 2025 (as stated in textbook), there are environmental fines of $10,000 in 2025, and $120,000 of the installment sales will reverse in 2025 (as stated in textbook). Financial income for 2025 is $600,000.