At the end of 2016, Ski Industries had a deferred tax asset account with a balance of $28 million attributable to a temporary book-tax difference of $70 million in a liability for estimated expenses. At the end of 2017, the temporary difference is $65 million. Ski has no other temporary differences. Taxable income for 2017 is $200 million and the tax rate is 40%. Prepare the journal entry(s) to record Skis income taxes for 2017, assuming it is more likely than not that one-fourth of the deferred tax asset will ultimately be realized.

2.80 and 0.50 Isn't correct for the second entry so please don't put that.