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The Information that follows pertalns to Richards Refrigeration, Inc.: a. At December 31, 2021, temporary differences existed between the financlal statement book values and the
The Information that follows pertalns to Richards Refrigeration, Inc.: a. At December 31, 2021, temporary differences existed between the financlal statement book values and the tax bases of the following: b. No temporary dlfferences existed at the beginning of 2021 . c. Pretax accounting income was $211 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 approprlate journal entry to record Income taxes for 2021. 2. What is the 2021 net income? Complete this question by entering your answers in the tabs below. 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.)
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