{a.] For the current year temporary differences existed between the nancial statement carrying amounts and the tax basis of the following: Future Taxable or Carrying (Deductible) Amount Tax Basis Amount Buildings and equipment $65,000,000 549,500,000 5 15,500,000 Prepaid insurance 1,500,000 0 1,500,000 L'ab'l't 1 1 1.133 055 10,500,000 0 {10,500,000} contingency {b} No temporary differences existed at the beginning of the year. {c.J Pretax accounting income was $350,000,000 and taxable income was $125,000,000 for the year and the tax rate is 35%. Permanent differences are the cause of any difference between pretax accounting income and taxable income that are not due to temporary differences. Required: Prepare thejournal entry to record the tax provision for the current year. {If no entry is required for a transactionfevem, select \"N0