Allmond Corporation, organized on January 3, 2021, had pretax accounting income of $28 million and taxable income of $35 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: 305 2022 $2 million 2023 million 2024 2 million 2025 2 illion Required: 1. Determine the amounts necessary to record Almond's income taxes for 2021 and prepare the appropriate journal entry 2. What is Almond's 2021 net income? Complete this question by entering your answers in the tabs below. Required Calculation Recure. 1 Recured2 Determine the amounts necessary to record Almond's income taxes for 2021. (Enter your aniwers in mine rounded to 2 decimal places 0.5,500,000 would be entered as 5.50) Enter amounts as positive values in min) Texas Taxs Recorded as counting income MacBook 09 SEO :9 . : s % 5 & 7 C 9 ) 0 IT 3 2 6 00 W R E Y U O I [ S D F G H J L MacBook BO F3 888 Fa IN 35 FO bb 8: 27 : $ 4 9% 5 & 7 3 6 8 9 E R T Y U O D F G I J View transaction list Journal entry worksheet