On January 1, 2018, Ameen Company purchased major pieces of manufacturing equipment for a total of $44 million. Ameen uses straight-line depreciation for financial statement reporting and MACRS for income tax reporting. At December 31, 2020, the book value of the equipment was $38 million and its tax basis was $28 million. At December 31, 2021, the book value of the equipment was $36 million and its tax basis was $21 million. There were no other temporary differences and no permanent differences. Pretax accounting income for 2021 was $45 million. Required: 1. Prepare the appropriate journal entry to record Ameen's 2021 income taxes. Assume an income tax rate of 25%. 2. What is Ameen's 2021 net income? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the appropriate journal entry to record Ameen's 2021 income taxes. Assume an income tax rate of 25%. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 2 decimal place (i.e., 10,000,000 should be entered as 10.00).) View transaction list View Journal entry worksheet No Event General Journal 1 1 Income tax expense Deferred tax liability Income tax payable Debit Credit 11.25