The accounting records of Flounder Inc. show the following data for 2025 (its first year of operations). 1. Life insurance expense on officers was $8,100. 2. Equipment was acquired in early January for $315,000. Straight-line depreciation over a 5 -year life is used, with no salvage value. For tax purposes, Flounder used a 30% rate to calculate depreciation. 3. Interest revenue on State of New York bonds totaled $4,200. 4. Product warranties were estimated to be $53,100 in 2025 . Actual repair and labor costs related to the warranties in 2025 were $9,800. The remainder is estimated to be paid evenly in 2026 and 2027. 5. Gross profit on an accrual basis was $103,000. For tax purposes, $77,000 was recorded on the installment-sales method. 6. Fines incurred for pollution violations were $4,800. 7. Pretax financial income was $811,900. The tax rate is 30%. Prepare a schedule starting with pretax financial income in 2025 and ending with taxable income in 2025. Temporary differences Depreciation Expense $ 31500 Installment Sales 26000 Warranty Expense 43300 Taxable income $806400 Prepare the journal entry for 2025 to record income taxes payable, income tax expense, and deferred income taxes. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)