Corning$-$Howell reported taxable income in $2024$ of $$124$ million. At December $31,2024,$ the reported amount of some assets and liabilities in the financial statements differed from their tax bases as indicated below:

$\backslash$table$[[,$Carrying Amount,Tax Basis$],[$Assets$,,],[$Current$,$$$12$ million,$$16$ million$],[,$ Net accounts receivable,$24$ million,$0],[,$ Prepaid insurance,$8$ million,$0],[\backslash$table$[[$Prepaid advertising$],[$Noncurrent$],[$Investments in equity securities $($fair value$)*]],8$ million,$0],[\backslash$table$[[$Buildings and equipment $($net$)],[$Liabilities$],[$Current$],[$Deferred subscription revenue$],[$Long$-$term$],[$Liability$-$compensated future absences$]],364$ million,$284$ million$]]$

Gains and losses taxable when investments are sold.

The total deferred tax asset and deferred tax liability amounts at January $1,2024,$ were $$158\mathrm{.}25$ million and $$25$ million, respectively. The enacted tax rate is $25\%$ each year.

Required:

Determine the total deferred tax asset and deferred tax liability amounts at December $31,2024.$

Determine the increase $($decrease$)$ in the deferred tax asset and deferred tax liability accounts at December $31,2024.$

Determine the income tax payable currently for the year ended December $31,2024.$

Prepare the journal entry to record income taxes for $2024.$