11. Taxes APP&E with a cost of $100 with zero salvage value generates revenues of $120 for Year 1 and $120 for Year 2. The PP&E is depreciated using Straight Line for GAAP purposes and Accelerated for Tax purpsoes. Tax rate is 21%. Below is the depreciation schedule for the two sets of books: Year 1 Year 2 Revenue $120.0 $120.0 Depreciation -GAAP $50.0 $50.0 Depreciation - IRS $70.0 $30.0 4 points 11.1 Complete the following table (shaded cells): Year 1 Year 2 Pre-Tax Income (Financial Income) Taxable income Income Tax Expense (GAAP) Income Tax Payable (Owe to IRS) 6 points 11.2 Provide the journal entries for both Year 1 and Year 2