The information that follows pertains to Richards Refrigeration, Incorporated: a. At December 31, 2024, temporary differences existed between the financial statement book values and the tax bases of the following: Book Value Tax Basis Buildings and equipment (net of accumulated depreciation) Prepaid insurance $ 122 $ 91 ($ in millions) Future Taxable (Deductible) Amount $ 31 Liability-loss contingency 51 26 0 51 0 (-26) b. No temporary differences existed at the beginning of 2024. c. Pretax accounting income was $201 million and taxable income was $145 million for the year ended December 31, 2024. The tax rate is 25%. Required: 1. Complete the following table given below and prepare the appropriate journal entry to record income taxes for 2024. 2. What is the 2024 net income? Complete this question by entering your answers in the tabs below. Required 1 Calculation General Journal Required 2 Prepare the appropriate journal entry to record income taxes for 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50) View transaction list Journal entry worksheet 1 Record 2024 income taxes. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal < Required 1 Calculation Required 2 >