Whispering Company reports pretax financial income of $66,100for 2020. The following items cause taxable income to be differentthan pretax financial income.

1.		Depreciation on the tax return is greater than depreciation onthe income statement by $14,800.
2.		Rent collected on the tax return is greater than rentrecognized on the income statement by $23,900.
3.		Fines for pollution appear as an expense of $10,600 on theincome statement.

Whispering’s tax rate is 30% for all years, and the company expectsto report taxable income in all future years. There are no deferredtaxes at the beginning of 2020.Compute taxable income and incometaxes payable for 2020.

Taxable income		$enter a dollar amount
Income taxes payable		$enter a dollar amount

Prepare the journal entry to record income tax expense, deferredincome taxes, and income taxes payable for 2020.(Credit account titles are automatically indented whenamount is entered. Do not indent manually. If no entry is required,select "No Entry" for the account titles and enter 0 for theamounts.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount

Prepare the income tax expense section of the income statementfor 2020, beginning with the line “Income before income taxes.”(Enter negative amounts using either a negative signpreceding the number e.g. -45 or parentheses e.g.(45).)

Whispering Company Income Statement (Partial) choose the accounting period                                                                 December 31, 2020For the Year EndedDecember 31, 2020For the Quarter Ended December 31, 2020
select an income statement item                                                                 CurrentDeferredDividendsExpensesIncomebefore Income TaxesIncome Tax ExpenseNet Income / (Loss)RetainedEarnings, January 1Retained Earnings, December 31RevenuesTotalExpensesTotal Revenues		$enter a dollar amount
select an opening section name                                                                 CurrentDeferredDividendsExpensesIncomebefore Income TaxesIncome Tax ExpenseNet Income / (Loss)RetainedEarnings, January 1Retained Earnings, December 31RevenuesTotalExpensesTotal Revenues
select an income statement item                                                                 CurrentDeferredDividendsExpensesIncomebefore Income TaxesIncome Tax ExpenseNet Income / (Loss)RetainedEarnings, January 1Retained Earnings, December 31RevenuesTotalExpensesTotal Revenues	$enter a dollar amount
select an income statement item                                                                 CurrentDeferredDividendsExpensesIncomebefore Income TaxesIncome Tax ExpenseNet Income / (Loss)RetainedEarnings, January 1Retained Earnings, December 31RevenuesTotalExpensesTotal Revenues	enter a dollar amount
		enter a subtotal of the two previous amounts
select a closing name for this statement                                                                CurrentDeferredDividendsExpensesIncome before Income TaxesIncomeTax ExpenseNet Income / (Loss)Retained Earnings, January 1RetainedEarnings, December 31RevenuesTotal ExpensesTotal Revenues		$enter a total net income or loss amount

Compute the effective income tax rate for 2020.(Round answer to 1 decimal places, e.g.25.5%.)

Effective income tax rate

enter the Effective income tax rate in percentages rounded to 1decimal place

%