/index.com.conra brown Chapter 16 Homework The who.com Help Save 2 Check my work 3.12 DO On January 2013. Ameen Company purchased a building for $51 milion Ameen uses straight line depreciation for financial statement reporting and MACRS for income tax reporting At December 31, 2015, the book value of the building was $36 million and its tax basis was $26 milion At December 3 2016, the book value of the building was $31 million and its tax basis was $16 milion. There were no other temporary deferences and no permanent differences Pretax accounting income for 2016 was $40 milion Required: 1. Prepare the appropriate journal entry to record Ameen's 2016 income taxes. Assume an income tax rate of 40% of no cotry is required for a mansaction event, select "No journal entry required in the first account feld, Enter your answers in ons 10.000.000 should be entered as 103) Vww ramacool View only work Ne Event 1 General Journal De 1 Income Deferred to say Income tax payable Seve E-Sub 2 Check my w 312 points etooth Print References 2. What is Ameen's 2016 net income (Enter your answers in millions de 10.000.000 should be entered os 10) Neting $ 16 milion Mc Pay PE Next >