Southern Atlantic Distributors began operations in January 2021 and purchased a delivery truck for $40.000. Southern Atlantic plans to use straight line depreciation overla 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 $400,000, which includes interest revenue of $48.000 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