($ in millions)
	Carrying Amount			Tax Basis			Future Taxable (Deductible) Amount
Buildings and equipment (net of accumulated depreciation)	$	128		$	94			$	34
Prepaid insurance		54			0				54
Liabilityloss contingency		29			0				(29	)

2. No temporary differences existed at the beginning of 2018.
3. Pretax accounting income was $204 million and taxable income was $145 million for the year ended December 31, 2018. The tax rate is 40%.

Required: 1. Complete the following table given below and prepare the appropriate journal entry to record income taxes for 2018 2. What is the 2018 net income?