The information that follows pertains to Richards Refrigeration, Inc.:

1. At December 31, 2021, temporary differences existed between the financial statement book values and the tax bases of the following:
2. No temporary differences existed at the beginning of 2021.
3. Pretax accounting income was $218 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?