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 2023 2024 Future Amounts Total 2022 2025 2021 $364 Accounting income Temporary difference: Prepaid insurance Taxable income $22 $22 $22 $22 (88) $276 $88 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 Declared a property dividend of 100,000 shares of Slowdown Company (book value $10.70 per share, fair value $9.35 per share). Note: Enter debits before credits. General Journal Debit Credit Date January 15, 2021 Record entry Clear entry View general journal