The information that follows pertains to Jane Company: (a) Temporary differences for the year 2018 are summarized below. Expenses deducted in the tax return, but not included in the income statement: Depreciation $50,000 Prepaid expense 5,000 Expenses reported in the income statement, but not deducted in the tax return: Warranty expense 10,000 (b) No temporary differences existed at the beginning of 2018. (c) Pretax accounting income was $87,000 for 2018. (d) Interest received on municipal bonds (non-taxable), $500. (e) The tax rate is 30%. Required: 1. Compute the taxable income for 2018. Show your computations. If not, no credit. 2. Prepare the journal entry to record the tax provision for 2018. Provide supporting computations. 3. What should be net income for 2018. PLEASE ANSWER QUESTIONS 1 , 2 and 3