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 $140 Accounting income Temporary difference: Prepaid insurance Taxable income $ 8 $ 8 $ 8 $ 8 $32 (32) $108 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 1 Record the income taxes. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal