Required information [The following information applies to the questions displayed below] Arndt, Incorporated reported the following for
Question:
Required 1 Required 2 Prepare a schedule that reconciles the difference between pretax accounting income and taxable income. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Pretax accounting income 0.0 o O 9 Permanent deference: Life insurance premiums (2.0) e O o —— 0 9 Subscriptions—2025 16.0 9 Unrealized loss (reversing) (24.0) o O o Taxable income (income tax return) (44.0) 0 Enacted tax rate (%) 25.0% o 25.0% a Tax payable currently 45.0 o Deferred tax liability
Required 1 Required 2 Prepare the necessary journal entry to record income taxes for 2025. Note: 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., 5,500,000 should be entered as 5.5). 1 Income tax expense Income tax payable