Arndt, Inc. reported the following for $2021$ and $2022($$ in millions$)$: $20212022$Revenues $ $958$ $ $1,008$ Expenses $788814$ Pretax accounting income $($income statement$)$ $ $170$ $ $194$ Taxable income $($tax return$)$ $ $137$ $ $221$ Tax rate: $25\%$ Expenses each year include $$51$ million from a two$-$year casualty insurance policy purchased in $2021$ for $$102$ million. The cost is tax deductible in $2021.$ Expenses include $$2$ million insurance premiums each year for life insurance on key executives. Arndt sells one$-$year subscriptions to a weekly journal. Subscription sales collected and taxable in $2021$ and $2022$ were $$47$ million and $$49$ million, respectively. Subscriptions included in $2021$ and $2022$ financial reporting revenues were $$39$ million $($$$24$ million collected in $2020$ but not recognized as revenue until $2021)$ and $$47$ million, respectively. Hint: View this as two temporary differencesone reversing in $2021$; one originating in $2021.2021$ expenses included a $$28$ million unrealized loss from reducing investments $($classified as trading securities$)$ to fair value. The investments were sold and the loss realized in $2022.$ During $2020,$ accounting income included an estimated loss of $$20$ million from having accrued a loss contingency. The loss was paid in $2021,$ at which time it is tax deductible. At January $1,2021,$ Arndt had a deferred tax asset of $$11$ million and no deferred tax liability$\mathrm{.}6.$ Suppose that during $2022,$ tax legislation was passed that will lower Arndts effective tax rate to $15\%$ beginning in $2023.$ Prepare a schedule that reconciles the difference between pretax accounting income and taxable income. Using the schedule, prepare the necessary journal entry to record income taxes for $2022.$