A B B D E G P19-1 (L01,2,4) 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 \begin{tabular}{|l|lr|} \hline Difference & $ & 120,000 \\ \hline Annual reversal in equal amounts over the years 2021 to 2024 & $ & 30,000 \\ \hline received on municipal bonds & $ & 10,000 \\ \hline ollected in advance on January 1, 2020 for a 3-year period & $ & 60,000 \\ \hline of rent reported as unearned at December 31, 2020 for book & $ & 40,000 \end{tabular} purposes 4. Income tax rate for 2020 Income tax rate for 2021 and subsequent years 5. Income taxes 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. (d) Prepare the income tax expense section of the income statement for 2020, beginning with "Income before income taxes