For the year ended December $31,2017,$ Micah Company, had pretax financial income of $$830,000$ in its first year of operations. When reconciling financial income with taxable income, Micah Company noted the following items:

Micah had $$412,000$ of excess tax depreciation since it used an accelerated depreciation method. This difference will reverse equally over a four$-$year period, $2018-2021.$

Micah accrued an $$83,000$ litigation accrual on its financial statements due to pending litigation. It is estimated that the litigation liability will be paid in $2021.$

Micah received $$73,000$ pre$-$payment of rent revenue. The rent revenue will be recognized during the last year of the lease, $2021.$

Micah earned $$33,000$ of interest income from New York municipal bonds. Interest revenue from the New York bonds is expected to be $$33,000$ each year until their maturity at the end of $2021.$

Micah has an enacted tax rate of $30\%$ for all years.

Part $1$: Prepare a reconciliation from pretax financial income to taxable income for the year ended December $31,2017$

Part $2$: Calculate the deferred tax $($asset$)$ and liability at the end of $2017.$

Part $3$; Prepare the journal entry to record income tax expense, deferred taxes, and the income taxes payable for $2017.$

Part $4$: How would the deferred tax asset and liability be reported on the $\frac{12}{31}\frac{?}{2017}$ balance sheet?