Brief Exercise 16-6 (Algo) Temporary difference; income tax payable given (L016-3] In 2021, Ryan Management collected rent revenue for future tenant occupancy. For financial reporting, the rent is recorded as deferred revenue and then recognized as revenue in the period tenants occupy rental property. For tax reporting, the rent is taxed when collected in 2021. The deferred portion of the rent collected in 2021 was $28.0 million. At the end of 2022, the remaining deferred portion of the rent collected was $20.0 million. No other temporary differences existed. The tax rate applicable to all years is 25%. Required: 1. Prepare the appropriate journal entry to record income taxes in 2021, assuming taxable income of $140 million. 2. Prepare the appropriate journal entry to record income taxes in 2022, assuming taxable income of $200 million. What is pretax accounting income? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Complete this question by entering your answers in the tabs below. Required 1 GJ Required 2 GJ Required 2 Book Income Assuming taxable income of $200 million in 2022, what is pretax accounting income? (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Pretax accounting income in 2022: million