Allmond Corporation, organized on January 3, 2021, had pretax accounting income of $24 million and taxable income of $34 million for the year ended December 31, 2021. The 2021 tax rate is 25%. The only difference between accounting income and taxable income is estimated product warranty costs. Assume that expected payments and scheduled tax rates (based on recently enacted tax legislation) are as follows: 2022 S4 million 20233 million 2024 1 million 2025 2 million 30% 309 2096 25% Required: 1. Determine the amounts necessary to record Allmond's income taxes for 2021 and prepare the appropriate journal entry. 2. What is Allmond's 2021 net income? Complete this question by entering your a wes in the tabs below. Required 1 Calculate Required 1G Required 2 Determine the amounts necessary to record Allmond's income taxes for 2021. (Enter your answers in millions rounded to 2 decimal places (i... 5.500,000 should be entered as 5.50). Enter all mounts as positive values.) Tax Rate Tax Recorded as (in millions) $ 24.00 Pretax accounting income Warranty costs reversing in 2022 2023 2024 2025 Tocal deferred tax amount Income taxable in current year 2 x 0.001 s 2400 Required 160