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Nash Company began operations at the beginning of 2021. The following information pertains to this...

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Accounting

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Nash Company began operations at the beginning of 2021. The following information pertains to this company 1 2 3 Pretax financial income for 202115 $88,000 The tax rate enacted for 2021 and future years is 20% Differences between the 2021 income statement and tax return are listed below. Warranty expense accrued for hinancial reporting purposes amounts to $7.700. Warranty deductions per the tax return amount to 51.900. (b) Gross profit on construction contracts using the percentage-of-completion method per books amounts to 5100,900. Gross profit on construction contracts for tax purposes amounts to 565,900 c) Depreciation of property, plant, and equipment for financial reporting purposes amounts to $55.200 Depreciation of these assets amounts to $77,000 for the tax return (0) A 53.400 fine paid for violation of pollution laws was deducted in computing preta financial income le Interest revenue recognized on an investment in tax-exempt municipal bonds amounts to $1,400, Taxable income is expected for the next few years. Assume () is short-term in nature, assume (b) and (c) are long termin nature) 4 ca Compute table income for 2021 Taxable income for 2021 $

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