Arnold Industries has pretax accounting income of $32 million for the year ended December 31, 2021. 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, 2021 An $8 million advance rent payment at the inception of the lease is tax deductible in 2021 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 2021 2. Prepare the appropriate journal entry to record Arnold's income taxes for 2022. Pretax accounting income was $50 million for the year ended December 31, 2022 3. Assume a new tax law is enacted in 2022 that causes the tax rate to change from 25% to 15% beginning in 2023. Complete the following table given below and prepare the appropriate journal entry to record Amold's income taxes for 2022 Complete this question by entering your answers in the tabs below Required 1 Calculation Required to Required 2 Required a Calculation Required Complete the following table given below to record Arnold's income tax for 2021. (Enter your answers in million rounded to 1 dedmal place (1.0, 5.500,000 nhould be entered a 5.500 Rab is Recorded (Simon) 5 32.0 x X Protax accounting income Rent costs tevorsing in 2022 2023 2024 2025 Total deferred tax amount Income taxable in current year x S 0 0 5 320 X Required 1 GJ >