The information that follows pertains to Esther Food Products:
a. At December 31, 2021, temporary differences were associated with the following future taxable (deductible) amounts:

Depreciation .......................$ 60,000
Prepaid expenses .................17,000
Warranty expenses .............(12,000)

b. No temporary differences existed at the beginning of 2021.
c. Pretax accounting income was $80,000 and taxable income was $15,000 for the year ended December 31, 2021.
d. The tax rate is 25%.

Required:
Determine the amounts necessary to record income taxes for 2021, and prepare the appropriate journal entry.