the records for oriole co show this data for 2025: gross profit on installment sales

The records for Oriole Co. show this data for 2025 : - Gross profit on installment sales recorded on the books was $360,000. Gross profit from collections of installment receivables was $220,000. - Life insurance premiums for policies covering company officers were $3,200. - Machinery was acquired in January for $240,000. Straight-line depreciation over a ten-year life (no salvage value) is used. For tax purposes, MACRS depreciation is used, and Oriole can deduct 14% for 2025. - Interest received on tax-exempt lowa State bonds was $8,400. - The estimated warranty liability related to 2025 sales was $21,000. Repair costs under warranties during 2025 were $13,000. The remainder will be incurred in 2026 . - Pretax financial income is $540,000. The tax rate is 20%. (a) Prepare a schedule starting with pretax financial income and compute taxable income. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45).)