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

1. At December 31, 2018, temporary differences existed between the financial statement carrying amounts and the tax bases of the following:

	($ in millions)
	Carrying Amount			Tax Basis			Future Taxable (Deductible) Amount
Buildings and equipment (net of accumulated depreciation)	$	142		$	101			$	41
Prepaid insurance		61			0				61
Liabilityloss contingency		36			0				(36	)

2. No temporary differences existed at the beginning of 2018.
3. Pretax accounting income was $211 million and taxable income was $145 million for the year ended December 31, 2018. The tax rate is 40%.

Required: 1. Complete the following table given below and prepare the appropriate journal entry to record income taxes for 2018 2. What is the 2018 net income?