The following information is available for Waterway Corporation for 2020. 1. 2. 3. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $114,000. This difference will reverse in equal amounts of $28,500 over the years 2021-2024. Interest received on municipal bonds was $10,300. Rent collected in advance on January 1, 2020, totaled $61,500 for a 3-year period. Of this amount, $41,000 was reported as unearned at December 31, 2020, for book purposes. The tax rates are 40% for 2020 and 35% for 2021 and subsequent years. Income taxes of $334,000 are due per the tax return for 2020. No deferred taxes existed at the beginning of 2020. 4. 5. 6. (b) Compute pretax financial income for 2020. Pretax financial income for 2020 $ Save for Later Attempts: 0 of 3 used Submit