Southern Atlantic Distributors began operations in January $2024$ and purchased a delivery truck for $$40,000.$ Southern Atlantic plans to use straight$-$line depreciation over a four$-$year expected useful life for financial reporting purposes. For tax purposes, the deduction is $50\%$ of cost in $2024,30\%$ in $2025,$ and $20\%$ in $2026.$ Pretax accounting income for $2024$ was $$360,000,$ which includes interest revenue of $$44,000$ from municipal governmental bonds. The enacted tax rate is $25\%.$

Assuming no differences between accounting income and taxable income other than those described above:

Required:

$1.$Complete the following table and prepare the journal entry to record income taxes in $2024.$

$2,$What is Southern Atlantic$$s $2024$ net income?