13 Exercise 16-22 (Algo) Multiple temporary differences; record income taxes (L016-2, 16-3) The information that follows pertains to Richards Refrigeration, Inc.: a. At December 31, 2021, temporary differences existed between the financial statement book values and the tax bases of the following: in million Puture axable Deductible Basis count $100 $40 50 0 (35) Book Value $140 60 35 Buildings and equipment (net of accumulated depreciation) Prepaid insurance Liability-loss contingency b. No temporary differences existed at the beginning of 2021, c. Pretax accounting income was $210 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