Exercise 16-16 (Algo) Multiple differences; financial statement effects [LO16-2, 16-3, 16-5] For the year ended December 31, 2024, Fidelity Engineering reported pretax accounting income of $980,000. Selected information fo 2024 from Fidelity's records follows: Interest income on municipal governmental bonds Depreciation claimed on the 2024 tax return in excess of depreciation on the income statenent: carrying anount of depreciable assets in excess of their tax basis at year-end Warranty expense reported on the incone statement. Actual warranty expenditures in 2024 Fidelity's income tax rate is 25%. At January 1, 2024, Fidelity's records indicated balances of zero and $9,000 in its deferred tax asset and deferted tax liability accounts, respectively. Required: 1. Determine the amounts necessary to record income taxes for 2024 , and prepare the appropriate joumal entry 2. What is Fidelity's 2024 net income? Complete this question by entering your answers in the tabs below. Determine the amounts necessary to record income taxes for 2024. Determine the amounts necessary to rour answers in thousands rounded to 1 decimal place. Amounts to be deducted should be indicated with a minus sign