The information that follows pertains to Richards Refrigeration, Incorporated:

At December 31, 2024, temporary differences existed between the financial statement book values and the tax bases of the following:

	($ in millions)
	Book Value	Tax Basis	Future Taxable (Deductible) Amount
Buildings and equipment (net of accumulated depreciation)	$ 132	$ 96	$ 36
Prepaid insurance	56	0	56
Liabilityloss contingency	31	0	(-31)

No temporary differences existed at the beginning of 2024.

Pretax accounting income was $206 million and taxable income was $145 million for the year ended December 31, 2024. The tax rate is 25%.

Required:

Complete the following table given below and prepare the appropriate journal entry to record income taxes for 2024.

What is the 2024 net income?