On January 1, 2021, Ameen Company purchased major pieces of manufacturing equipment for a total of $144 million. Ameen uses straight-line depreciation for financial statement reporting and deducted 100% of the equipment's cost for income tax reporting in 2021. At December 31, 2023, the book value of the equipment was $120 million. At December 31, 2024, the book value of the equipment was $112 million. There were no other temporary differences and no permanent differences. Pretax accounting income for 2024 was $172 million. Required: 1. Prepare the appropriate journal entry to record Ameen's 2024 income taxes. Assume an income tax rate of 25%. 2. What is Ameen's 2024 net income? Complete this question by entering your answers in the tabs below. Required 11 Required 2 Prepare the appropriate journal entry to record Ameen's 2024 income taxes. Assume an income tax rate of 25%, Note: 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 1 decimal plae (ie, 10,100,000 should be entered as 10.1). View transaction list Journal entry worksheet Record 2024 income taxes. Note: Enter debits before credits. Event 1 General Journal Debit Credit >