Exercise 16-3 (Algo) Determine taxable income; determine prior year deferred tax amount; 100% depreciation in year of purchase (LO16-2] On January 1, 2018, Ameen Company purchased major pieces of manufacturing equipment for a total of $180 million. Ameen uses straight-line depreciation for financial statement reporting and deducted 100% of the equipment's cost for income tax reporting in 2018. At December 31, 2020, the book value of the equipment was $150 million. At December 31, 2021, the book value of the equipment was $140 million. There were no other temporary differences and no permanent differences. Pretax accounting income for 2021 was $230 million. Required: 1. Prepare the appropriate journal entry to record Ameen's 2021 income taxes. Assume an income tax rate of 20%. 2. What is Ameen's 2021 net income