Exercise $16-16($Algo$)$ Multiple differences; financial statement effects $[$LO$16-2,16-3,16-5]$

For the year ended December $31,2024,$ Fidelity Engineering reported pretax accounting income of $$1,052,000.$ Selected information for $2024$ from Fidelity$$s records follows:

Interest income on municipal governmental bonds$ $108,000$Depreciation claimed on the $2024$ tax return in excess of depreciation on the income statement$132,000$Carrying amount of depreciable assets in excess of their tax basis at year$-$end$240,000$Warranty expense reported on the income statement$64,000$Actual warranty expenditures in $202454,000$

Fidelity's income tax rate is $25\%.$ At January $1,2024,$ Fidelity's records indicated balances of zero and $$27,000$ in its deferred tax asset and deferred tax liability accounts, respectively.

Required:

Determine the amounts necessary to record income taxes for $2024,$ and prepare the appropriate journal entry.

What is Fidelity$$s $2024$ net income?