Financial institutions in the u. s. economy
suppose clancy would like to invest $1,000 of his savings.
one way of investing is to purchase stock or bonds from a private company.
suppose nanospeck, a biotechnology firm, is selling bonds to raise money for a new lab—a practice known as or
buying a bond issued by nanospeck would give claim to partial ownership in, or an iou promise to pay? )in the firm.
in the event that nanospeck runs into financial difficulty, and the other bondholders, or the stockholers) will be paid first.

Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."