The following information is for Hulk Gyms' first year of operations. Amounts are in millions of dollars. The enacted tax rate is 25%. Year 2021 $ 60 Future Taxable Amounts 2023 2024 Future Amounts Total 2022 2025 Accounting income Temporary difference: Prepaid insurance Taxable income $3 $3 $ 3 $3 $12 (12) $ 48 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 Record the income taxes. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal