Arnold Industries has pretax accounting income of $136 million for the year ended December 31,2024 . The tax rate is 25\%. The only difference between accounting income and taxable income relates to an operating lease in which Arnold is the lessee. The inception of the lease was December 28,2024 . An $112 milion advance rent payment at the inception of the lease is tax-deductible in 2024 but, for financial reporting purposes, represents prepaid rent expense to be recognized equally over the four-year lease term. Required: 1. Complete the following table given below and prepare the appropriate journal entry to record Arnold's income taxes for 2024. 2. Prepare the appropriate joumal entry to tecord Amold's income taxes for 2025 . Pretax accounting income was $180 milion for the year ended December 31,2025 . 3. Assume a new tax law is enacted in 2025 that causes the tax rate to change from 25% to 15% beginning in 2026 . Complete the following table given below and prepare the appropriate journal entry to record Arnold's income toxes for 2025. Complete the following table given below to record Arnold's income taxes for 2024. Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Record the income taxes for 2024. Note: Enter debits before credits. Prepare the appropriate journal entry to record Arnold's income taxes for 2025. Pretax accounting income was $180 million for the year Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Enter your answers in ended December 31,2025 . millions rounded to 1 decimal place (i.e,, 5,500,000 should be entered as 5.5). Journal entry worksheet Assume a new tax law is enacted in 2025 that causes the tax rate to change from 25% to 15% beginning in 2026 . Complete the following tablt given below to record Amold's income taxes for 2025 . Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5 ), Amounts to be deducted should be indicated with a minus tign. Calculation Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your a Prepare the appropriate journal entry to record Arnold's income taxes for 2025. millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Journal entry worksheet Record the income taxes for 2025. Arnold Industries has pretax accounting income of $136 million for the year ended December 31,2024 . The tax rate is 25\%. The only difference between accounting income and taxable income relates to an operating lease in which Arnold is the lessee. The inception of the lease was December 28,2024 . An $112 milion advance rent payment at the inception of the lease is tax-deductible in 2024 but, for financial reporting purposes, represents prepaid rent expense to be recognized equally over the four-year lease term. Required: 1. Complete the following table given below and prepare the appropriate journal entry to record Arnold's income taxes for 2024. 2. Prepare the appropriate joumal entry to tecord Amold's income taxes for 2025 . Pretax accounting income was $180 milion for the year ended December 31,2025 . 3. Assume a new tax law is enacted in 2025 that causes the tax rate to change from 25% to 15% beginning in 2026 . Complete the following table given below and prepare the appropriate journal entry to record Arnold's income toxes for 2025. Complete the following table given below to record Arnold's income taxes for 2024. Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Record the income taxes for 2024. Note: Enter debits before credits. Prepare the appropriate journal entry to record Arnold's income taxes for 2025. Pretax accounting income was $180 million for the year Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Enter your answers in ended December 31,2025 . millions rounded to 1 decimal place (i.e,, 5,500,000 should be entered as 5.5). Journal entry worksheet Assume a new tax law is enacted in 2025 that causes the tax rate to change from 25% to 15% beginning in 2026 . Complete the following tablt given below to record Amold's income taxes for 2025 . Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5 ), Amounts to be deducted should be indicated with a minus tign. Calculation Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your a Prepare the appropriate journal entry to record Arnold's income taxes for 2025. millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Journal entry worksheet Record the income taxes for 2025