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Hamilton company makes us available its financial data for the year 2013 here.

1. Pretax financial income reported $60,000

2. Depreciation charged for tax purpose is $76,000 and Depreciation charged in the books is $60,000

3.Advanced rent received not recognized in books as income of 2013 but treated as income on the income tax return $5,400.

4. fines paid for pollution are charged as expense in income statement.

5. Tax rate for current and future years 30%

Assuming that there are no deferred taxes at the beginning of 2013.

a. compute taxable income for 2013

b. Record journal entry to record income tax expense, deferred income taxes and income tax payable for 2013.

c. prepare income tax section of the income statement for 2013.

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