19.1 and 19.2 please

P19.1 (LO 1,2,4) Excel (Three Differences, No Beginning Deferred Taxes, Multiple Rates) The following information is available for Remmers Corporation for 2020. 1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $120,000. This difference will reverse in equal amounts of $30,000 over the years 2021-2024. 2. Interest received on municipal bonds was $10,000, 3. Rent collected in advance on January 1, 2020, totaled $60,000 for a 3-year period. Of this amount, $40,000 was reported as unearned at December 31, 2020, for book purposes. 4. The tax rates are 20% for 2020 and 17% for 2021 and subsequent years. 5. Income taxes of $160,000 are due per the tax return for 2020. 6. No deferred taxes existed at the beginning of 2020. Instructions a. Compute taxable income for 2020 b. Compute pretax financial income for 2020. c. Prepare the journal entries to record income tax expense, deferred income taxes, and income taxes payable for 2020 and 2021. Assume taxable income was $480,000 in 2021. d. Prepare the income tax expense section of the income statement for 2030, beginning with "Income before income taxes." P19.2 (LO 1, 2) (One Temporary Difference, Tracked for 4 Years, One Permanent Difference, Change in Rate) The pretax financial income of Truttman Company differs from its taxable income throughout each of 4 years as follows Thox Rate Year 2020 Pretax Financial Income S0.000 320,000 150,00 Table Income S180.000 275.000 25000 RRR 2023 th E-Donald E. Kieso.pdf Propure the journal come tax expense de concom income payable for 2020 an Open with ble income was $480.000 in 2021. d. Prepare the income tax expense sector of the income statement for 2020, beginning with "Income before income taxes." P19.2 (L0 1, 2) (One Temporary Difference, Tracked for 4 Years, One Permanent Difference, Change in Rate) The pretax financial income of Truttman Company differs from its taxable income throughout each of 4 years as follows. Year 2020 2021 2022 2023 Pretax Financial Income $290,000 320,000 350,000 420,000 Taxable Income S180,000 225,000 260,000 560,000 Tax Rate 35% 20 20 20 Problems 19-53 Pretax financial income for each year includes a nondeductible expense of $30,000 (never deductible for tax purposes). The remainder of the difference between pretax financial income and taxable income in each period is due to one depreciation temporary difference. No deferred income taxes existed at the beginning of 2020 Instructions . Prepare journal entries to record income taxes in all 4 years. Assume that the change in the tax rate to 20% was not enacted until the beginning of 2021. b. Prepare the income statement for 2021, beginning with Income before income taxes. P19.3 (LO 1, 2, 4) (Second Year of Depreciation Difference, Two Differences, Single Rate, hoan htained for Gocker Cormation