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Yellowstone, Inc. reported pretax book income of $3,500,000 in 2023 , its second year of operations. Yellowstone had no beginning deferred tax asset or liability. During the current year, the reserve for bad debts decreased by $120,000. In addition, tax depreciation was less than book depreciation by $225,000. For financial statement purposes, Yellowstone deducted the $9,000, the amount paid for life insurance premiums for its officers. Finally, the Company received $75,000 of tax-exempt municipal bond interest. Answer the following questions: a. What items listed above would represent temporary differences for income tax purposes? b. What items listed above would represent permanent differences for income tax purposes? c. What items listed above would represent favorable (both temporary and permanent) differences for income tax purposes? d. What would be Yellowstone's current year Income Tax Expense? e. What would Yellowstone's current year income taxes payable? f. Prepare the journal entry to record income taxes for 2023