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Snoopy Ca, shows the following for 2023, its first year of operations: 1. Accounting income before twx expense is $450,000. Thlo amount includes a $40,000

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Snoopy Ca, shows the following for 2023, its first year of operations: 1. Accounting income before twx expense is $450,000. Thlo amount includes a $40,000 betore-tax capltal gain. One-tialf of al capital onin le taxablo. 2. On December 22,2023,360,000 was recelved from a tenant for rent during the period january 1, 2024 to December 31, 2025, Rent is taxable when recelved. 3. Capital cost allowance is $55,000. 4. Depreciation expense recorded is $75,000. 5. Warranty expense recorded on the income statement is $80,000. 6. Actual warranty repair costs incurred are $90,000. 7. A $15,000 income tax penalty is not deductible for tax purposes. 6. The tax rate for 2023 is 30%. REQUIRED: 1. Prepare the reconclilation between accounting Income and taxable Income for 2023. Make sure to properly classiby differences between permanent and temporary differences, You can use the provided template. 2 compute the current income tax expense for 2023. econciliation between accounting income ad taxable income

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