P18.1 (1.01,2,4) Excel (Three Differences, No Beginning Deferred Taxes, Multiple Rates) The following information is available for Remmers Corporation for 2025 . a. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $120,000. This difference will reverse in equal amounts of $30,000 over the years 2026-2029. b. Interest received on municipal bonds was 510,000 . c. Rent collected in advance on January 1, 2025, totaled $60,000 for a 3-year period. Of this amount, $40,000 was reperted as unearned at December 31, 2025, for book purposes. d. The tax rates are 20% for 2025 and 17% for 2026 and subsequent years. e. Income taxes of $160,000 are due per the tax return for 2025 . f. No deferred taxes existed at the beginning of 2025. Instructions a. Compute taxable income for 2025 . b. Compute pretax financial income for 2025 . c. Prepare the journal entries to record income tax expense, deferred income taxes, and income taxes payable for 2025 and 2026 . Assume taxable income was $180,000 in 2026. d. Prepare the income tax expense section of the income statement for 2025 , beginning with "Income before income taxes