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On January 1, 2018. Ameen Company purchased major pieces of manufacturing equipment for a total of $60 million. Ameen uses straight-line depreciation for financial statement reporting and MACRS for income tax reporting. At December 31, 2020, the book value of the equipment was $54 million and its tax basis was $44 million At December 31, 2021, the book value of the equipment was $52 million and its tax basis was $37 million. There were no other temporary differences and no permanent differences, Pretax accounting income for 2021 was $45 million Required: 1. Prepare the appropriate journal entry to record Ameen's 2021 income taxes. Assume an income tax rate of 25%. 2. What is Ameen's 2021 net income? 339 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the appropriate journal entry to record Ameen's 2021 income taxes. Assume an income tax rate of 25%. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field, Enter your answers in millions rounded to 2 decimal place (le, 10,000,000 should be entered as 10.00).) View transaction list Event Debit Credit No 1 View journal entry worksheet General Journal Income tax expense Deferred tax liability Income tax payable 1 11 25 5.00 11.75 Required Required 2 >