The information that follows pertains to Ester Food Products: At December $312018,$ temporary differences were associated with the following future taxable $($deductible$)$ amounts:

Depreciation $60,000$

Prepaid expenses $17,000$

Warranty expenses $-12,000$

No temporary differences existed at the beginning of $2018.$

Pretax accounting income was $80,000$ and taxable incoem was $15,000$ for the year ended December $31,2018$

The tax rate is $40\%$

Determine the amounts necessary to record income taxes for $2018$ and prepare the appropriate journal entry