The information that follows pertains to Richards Refrigeration, Inc.: a. At December 31, 2021, temporary differences existed between the financial statement book values and the tax bases of the following: ($ in millions) Future Taxable Tax (Deductible) Basis Amount $107 $ 47 Book Value $154 67 42 Buildings and equipment (net of accumulated depreciation) Prepaid insurance Liability-loss contingency 67 (42) b. No temporary differences existed at the beginning of 2021. c. Pretax accounting income was $217 million and taxable income was $145 million for the year ended December 31, 2021. The tax rate is 25% Required: 1. Complete the following table given below and prepare the appropriate journal entry to record income taxes for 2021. 2. What is the 2021 net income? Camslate this action by enterina H e re is the the below Complete this questloh by entering your answers in the tabs below. Required 1 Calculation Required 1 G Required 2 Complete the following table given below to record income taxes for 2021. (Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50). Negative amounts should be entered with a minus sign.) * Tax Rate % = Tax $ Recorded as: ($ in millions) $ 217.0 Pretax accounting income Permanent differences Income subject to taxation Temporary Differences Income taxable in current year Required 1 Calculation Required 1 GJ > d5 5.50) View transaction list Journal entry worksheet