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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

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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 Future Amounts Total 2022 2023 2024 2025 2021 $252 Accounting income Temporary difference: Prepaid insurance Taxable income $15 $15 $15 $15 $60 (60) $192 Requlred: 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

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