During $2025,$ Novak Co's first year of operations, the company reports pretax financial income at $\backslash (\backslash$$ $269,200\backslash ).$ Novak's enacted tax rate is $\backslash (45\backslash \%\backslash )$ for $2025$ and $\backslash (20\backslash \%\backslash )$ for all later years. Novak expects to have taxable income in each of the next $5$ years. The effects on future tax returns of temporary differences existing at December $31,2025,$ are summarized as follows.

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$\backslash$hline No Answer needed here & $2026$ & $2027$ & $2028$ & $2029$ & $2030$ & Total $\backslash \backslash$

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Future taxable $($deductible$)\backslash \backslash$

amounts:

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$\backslash$hline Installment Sales & $\backslash (\backslash$$ $32,200\backslash )$ & $\backslash (\backslash$$ $32,200\backslash )$ & $\backslash (\backslash$$ $32,200\backslash )$ & & & $\backslash (\backslash$$ $96,600\backslash )\backslash \backslash$

$\backslash$hline Depreciation & $\backslash (\backslash$$ $6,200\backslash )$ & $\backslash (\backslash$$ $6,200\backslash )$ & $\backslash (\backslash$$ $6,200\backslash )$ & $\backslash (\backslash$$ $6,200\backslash )$ & $\backslash (\backslash$$ $6,200\backslash )$ & $31,000\backslash \backslash$

$\backslash$hline Unearned rent & $\backslash ((45,300)\backslash )$ & $\backslash ((45,300)\backslash )$ & & & & $\backslash ((90,600)\backslash )\backslash \backslash$

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Complete the Schedule below to compute deferred taxes at December $31,2025.$

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Temporary $\backslash \backslash$

Difference

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Future Taxable $\backslash \backslash$

$($deductible$)\backslash \backslash$

Amounts

$\backslash$end$\{$tabular$\}$ & Tax Rate & $($Asset$)$ & Liability $\backslash \backslash$

$\backslash$hline Installment Sales & $\backslash (\backslash$$ $96,600\backslash )$ & Answer here & Answer here & Answer here $\backslash \backslash$

$\backslash$hline Depreciation & $31,000$ & Answer here & Answer here & Answer here $\backslash \backslash$

$\backslash$hline Unearned Rent & $\backslash ((90,600)\backslash )$ & Answer here & Answer here & Answer here $\backslash \backslash$

$\backslash$hline Totals & Answer here & & Answer here & Answer here $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

Compute taxable income for $2025.$

Taxable income for $2025\backslash$$$\_$Answer here

Prepare the journal entry to record income taxes payable, deferred taxes, and income tax expense for $2025.$

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$\backslash$hline & Debit & Credit $\backslash \backslash$

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$\backslash$hline & & $\backslash \backslash$

$\backslash$hline & & $\backslash \backslash$

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