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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 30%. Year 2018

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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 30%. Year 2018 $58.8 Future Taxable Amounts Amounts 2019 2020 2021 2022 Accounting income Temporary difference: Prepaid insurance (9.6) $2.4 $2.4 $2.4$2.4$9.6 $49.2 Taxable income Required: Prepare a compound journal entry to record the income tax expense for the year 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) Journal entry worksheet Record the income taxes. Transaction General Journal Viow

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