The records for Bosch Co. show this data for 2022: Gross profit on installment sales recorded on the books was HK$360,000. Gross profit for tax purposes from collections of installment receivables was HK$270,000. Machinery was acquired in January for HK$300,000. Straight-line depreciation over a ten-year life (no residual value) is used. For tax purposes, accelerated depreciation is used and Bosch may deduct 20% for 2022. Interest received on governmental obligations was HK$9,000. This amount is not taxable in current or future periods. The estimated warranty liability related to 2022 sales was HK$19,600. Repair costs under warranties during 2022 were HK$13,600. The remainder will be incurred in 2023. Pretax accounting income is HK$600,000. The tax rate is 30%. Required: (a) Prepare a schedule starting with pretax accounting income and compute taxable income. (b) Prepare the journal entry to record income taxes for 2022. Show all workings. Narratives are not required.