You have been assigned to compute the income tax provision for Tulip City Flowers Incorporated (TCF) as of December 31, 2021. The company's income statement for 2021 is provided below: (Leave no answer blank. Enter zero if applicable.) Net sales Cost of sales Gross profit Compensation Selling expenses Tulip City Flowers Incorporated Statement of Operations at December 31, 2021 Depreciation and amortization Other expenses Total operating expenses Income from operations Interest and other income Income before income taxes You identified the following permanent differences: Interest income from municipal bonds Nondeductible stock compensation Nondeductible fines $ 20,000,000 12,000,000 $ 8,000,000 $ 500,000 750,000 1,250,000 1,000,000 $ 3,500,000 $ 4,500,000 25,000 $ 4,525,000 $ 10,000 5,000 1,000 Need help with Part B Please Req A and B Req C a. Compute TCF's current income tax expense or benefit for 2021. b. Compute TCF's deferred income tax expense or benefit for 2021. a. Current income tax expense b. Net deferred tax expense $ S 873,810 949,410 x TCF prepared the following schedule of temporary differences from the beginning of the year to the end of the year: Taxable Temporary Differences Accumulated depreciation Tulip City Flowers Incorporated Temporary Differences Scheduling Template BOY Deferred Taxes Cumulative T/D Current Year Change $ (1,050,000) $ (500,000) $ (5,500,000) EOY Deferred Taxes $ (1,155,000) Deductible Temporary Differences Allowance for bad debts Prepaid income Deferred compensation Accrued pension liabilities Total Tulip City Flowers Incorporated Temporary Differences Scheduling Template BOY Deferred Current Year Change $ 10.000 20,000 10,000 100,000 EOY Cumulative T/D $110,000 20,000 60,000 Taxes $ 21,000 0 10,500 105,000 $ 136,500 $ 140,000 $ 790,000 600,000 Deferred Taxes $ 23,100 4,200 12,600 126,000 $ 165,900 Required: a. Compute TCF's current income tax expense or benefit for 2021. b. Compute TCF's deferred income tax expense or benefit for 2021. c. Prepare a reconciliation of TCF's total income tax provision with its hypothetical income tax expense of 21 percent in both dollars and rates. Complete this question by entering your answers in the tabs below