The following information is for Hulk Gyms' first year of operations. Amounts are in millions of dollars. The enacted tax rate is 25%. Year Future Taxable Amounts 2022 2023 2024 2025 Future Amounts Total 2021 $268 Accounting income Temporary difference: Prepaid insurance Taxable income $16 $16 $16 $16 $64 (64) $204 Required: Prepare a compound journal entry to record the income tax expense for the year 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions, (for example, 10 rather than 10,000,000.) View transaction list Journal entry worksheet