Southern Atlantic Distributors began operations in January 2021 and purchased a delivery truck for $40,000. Southern Atlantic plans to use straight-line depreciation over a four-year expected useful life for financial reporting purposes. For tax purposes, the deduction is 50% of cost in 2021, 30% in 2022, and 20% in 2023. Pretax accounting income for 2021 was $360,000, which includes interest revenue of $44,000 from municipal governmental bonds. The enacted tax rate is 25%. Assuming no differences between accounting income and taxable income other than those described above: Required: 1. Complete the following table given below and prepare the journal entry to record income taxes in 2021. 2. What is Southern Atlantic's 2021 net income? Required 1 Calculation Required 1 G Required 2 Complete the following table given below to record income taxes in 2021. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in whole dollars.) Tax Rate % Tax $ Recorded as: $ 360,000 Pretax accounting income Permanent difference Income subject to taxation Temporary difference Income taxable in current year Required 1 Calculation Required 1 G Required 2 Prepare the journal entry to record income taxes in 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record 2021 income taxes. Note: Enter debits before credits. Transaction General Journal Debit Credit Required 1 Calculation Required 1 GJ Required 2 What is Southern Atlantic's 2021 net income? (Enter your answer in whole dollar.) Net income