These are all the steps I was given. Not sure how to proceed. Thank you.

axes 0-9-3. Federal Income Taxes Required The table below shows the corporate income tax rates for 2017: U.S. Corporate Income Tax Table of the amount over- Taxis Pre-tax net income over- 15% But not over - $50,000 75,000 100,000 335,000 10,000,000 15,000,000 18,333,333 50,000 75,000 100,000 335,000 10,000,000 15,000,000 18,333,333 50,000 75,000 100,000 335,000 $ 7,500 + 25% 13,750 + 34% 22,250+ 39% $113,900 + 34% 3,400,000+ 35% 5,150,000 + 38% 10,000,000 15,000,000 35% General ledger account numbers for the journal entry are: A/C #40700 (Federal Income Tax Expense) and A/C #20700 (Federal Income Taxes Payable). Show your calculation below. Jan - Dec 17 Waren Sports Supply Income Statement January through December 2017 1,590.883.00 -61, 106.00 -15,405.82 825.00 1,515.196.18 Ordinary Income Expense Income 30100 Sales 30200 - Sales Returns and Allowances 30300 Sales Discounts Taken 31200 - Miscellaneous Revenue Total Income Cost of Goods Sold 30400 Cost of Goods Soid 30700 - Purchases Discounts Taken 30800 - Freight-in 1,017.894.00 -16.554.48 24,506.44 1,025,845.96 489,350.22 Total COGS Gross Profit Expense 40100. Rent Expense 40200 - Advertising Expense 40300 - Office Supplies Expense 40500 Wages and Salaries Expense 40600 - Payroll Tax Expense 40900 - Bad Debt Expense 41000 - Other Operating Expense 66901 - "Reconciliation Discrepancies 57,600.00 22.275.00 5,664.91 140,663.35 11,611.24 4,400.00 29.285.75 -84,842.36 186,657.89 302,692.33 302,692.33 Total Expense Net Ordinary Income Net Income ude the form 30600 (Purchase on and freight-in as a part of unts during the accounting period. 17 sed to A/C#30400 (Cost of Goods Sold): A ken) and A/C#30800 (Freight-In). Before preparing the general journal entry, determine the Bd each account being closed to cost of goods sold. Determine the balan in the accounts to be closed by examining the income statement. Recall from the SUA that cor 50,000 of pre-tax income next $235,000. T Federal Income Taxes Recall from the SUA that corporate income tax rate brackets applicable to Waren for 2017 are: 15% of the first $50,000 of pre-tax income, plus 25% of the next $25,000, plus 34% of the next $25,000, plus 39% of the next $235,000. The remaining tax brackets are not listed here because they aren't applicable to Waren's level of pre-tax income. General ledger account numbers for the journal entry are: A/C#40700 (Federal Income Tax Expense) and A/C#20700 (Federal Income Taxes Payable). Either enter the correct amount on the online grading page of the Armond Dalton Resources website or show your calculation on the Chapter 9 pages of the Student Problems & Cases book (consult your instructor). After all other adjusting entries are recorded, determine 2017 pre-tax income by examining the 2017 income statement from the Memorized tab in the Report Center Do not be concerned if your amount is slightly different from the SUA amount for federal income taxes. The minor payroll differences will affect the calculation slightly