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The following information is available for Bonita Corporation for 2020. 1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by

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The following information is available for Bonita Corporation for 2020. 1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by 5122.000. This difference will reverse in equal amounts of 530,500 over the years 2021-2024. 2. Interest received on maniopal bonds was $11,000. 3. Rem collected in advarce on Jamuary 1,2020, totaled $63,900 tor a 3-year period of this amount, 542,600 was reported as urearned at December 31, 2020, for book purposes. 4. The tax rates are 40% for 2020 and 35% for 2021 and subsequent years. 5. Income taxes of $331.000 aredue per the tax return for 2020 . t. No deferred tisos existed at the beghning of 2020 . (a) Compute tawable income for 2020. Taxable income tor 2020 eTextbook and Media Hist of Accounts Artempts: 3 of 3 used (t).) Campuas pretax financtal incrome tor 2020 Preces finantial incorne far 2oso s

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