Exercise 16-2 Determine taxable Income; determine prior year deferred tox amount [LO16-1 On January 1, 2013, Ameen Company purchased a building for $36 million Ameen uses straight-ine depreciation for financial statement reporting and MACRS for income tax reporting. At December 31, 2017, the book value of the building was $30 million and its tax basis was $20 million. At December 31, 2018, the book value of the building was $28 million and its tax basis was $13 million. There were no other temporary differences and no permanent differences Pretax accounting income for 2018 was $45 million Required: 1. Prepare the appropriate journal entry to record Ameen's 2. What is Ameen's 2018 net income? 2018 income taxes. Assume an income tax rate of 40% Complete this question by entering your answers in the tabs below. Required 1Required 2 taxes. Assume an income tax rate of 40%. (if no entry is required Prepare the appropriate journal entry to record Ameen's 2018 income for a transaction/event, select "No journal entry required should be entered as 10).) in the first aecount field. Enter youri ansvers in millions (ue. 10.000.000 Journal entry worksheet