The accounting reconds of Widdorse ine show the following data for 2025 (its first year of operations). 1. Life insurance expense on otficers was $8,600 2. Equipment was acquired in early danuary for $304,000. 5 traight-line depreciation over a 5 -year life is usedi with no salvage value. For tax purposes, Wildhorse used a 30% rate to calculate depreciation. 3. Interest revenue on State of New York bonds totaled $3,800 4. Product warranties were estimated to be $49.900 in 2025 . Actual repair and labor costs related to the warranties in 2025 were 59,300 . The remainder is estimated to be paid evenly in 2026 and 2027. 5. Gross proft on an accrual basis was \$108,000. For tax purposes, \$75,900 was recorded on the insallment-sales method. 6. Fines incurred for pollution violations were $4.000. 7. Pretax financial income was $793,600. The tax rate is 30%K. Prepare a schedule starting with pretax financial income in 2025 and ending with taxnble income in 2025 Prepare the journal entry for 2025 to record income tawes payable, income tak expense, and deferred income taxes. (List all debli entries before credit entries. Credit occount titles are outomatically indented when amount is entered. Do not indent manually if no entry is reauired, seiect "No Entry" for the occount tities and enter 0 for the amounts.)