nect Close Browser Bb Blackboard Learn Bb Course Content - 2... X xFinity | Portal Citing a Website in.. Unit 5 AS: Exercises and Problems (Connect) i Saved 4 On January 1, 2018, Ameen Company purchased major pieces of manufacturing equipment for a total of $54 million. Ameen uses straight-line depreciation for financial statement reporting and deducted 100% of the equipment's cost for income tax reporting in 2018. At December 31, 2020, the book value of the equipment was $45 million. At December 31, 2021, the book value of the equipment was $42 million. There were no other temporary differences and no permanent differences. Pretax accounting income for points 2021 was $72 million. Skipped Required: 1. Prepare the appropriate journal entry to record Ameen's 2021 income taxes. Assume an income tax rate of 20%. 2. What is Ameen's 2021 net income? eBook Print Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Prepare the appropriate journal entry to record Ameen's 2021 income taxes. Assume an income tax rate of 20%. (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 1 decimal place (i.e., 10,100,000 should be entered as 10.1).) View transaction list Journal entry worksheet Mc Graw Hill Type here to search\fView transaction list ed Journal entry worksheet nces Record 2021 income taxes. Note: Enter debits before credits. Event General Journal Debit Credit