At the beginning of 2012, Annie, Inc. has a deferred tax asset of 7,500 and deferred tax liability of 10,500. In 2012, pretax financial income was 826,000 and the tax rate was 35%.
Pretax income included:
interest income from municipal bonds 15,000
accured warranty costs, estimated to be used in 2013 74,000
prepaid rend expense, will be used in 2013 31,000
installment sales revenue, to be collected in 2013 56,000
operating loss carryforward 71,000
what is the taxable income for 2012?