For the year ended December $31,2024,$ Fidelity Engineering reported pretax accounting income of

$$1,012,000.$ Selected information for $2024$ from fidelity's records follows:

Interest income on municipal governmental bonds: $$68,000$

Depreciation claimed on the $2024$ tax return in excess of depreciation on the income statement: $$92,000$

Carrying amount of depreciable assets in excess of their tax basis at year end: $$160,000$

Warranty expense reported on the income statement: $$44,000$

Actual warranty expenditures in $2024$:

$$34,000$

REQUIRED:

$1.$ Complete the table, then prepare the appropriate journal entry.

$2.$ What is fidelity's $2024$ net income?