The following information is for James Industries' first year of operations. Amounts are in millions of dollars. Year Future Taxable AmountsFuture Amounts 202020212022 2023 2024Total Accounting income$130 Temporary difference: Advance rent payment (40)$10.00 $10.00 $10.00 $10.00 $40.00 Taxable income$90 In 2021 the company's pretax accounting income was $88.0. The enacted tax rate for 2020 and 2021 is 25%, and it is 30% for years after 2021. Required: Prepare a journal entry to record the income tax expense for the year 2021.

Suppose there are three types of consumers who attend concerts at your university’s performing arts center: students, staff, and faculty. each of these groups has a different willingness to pay for tickets; within each group, willingness to pay is identical. there is a fixed cost of $1,000 to put on a concert, but there are essentially no variable costs. for each concert: i. there are 140 students willing to pay $20. (ii) there are 200 staff members willing to pay $35. (iii) there are 100 faculty members willing to pay $50. a) if the performing arts center can charge only one price, what price should it charge? what are profits at this price? b) if the performing arts center can price discriminate and charge two prices, one for students and another for faculty/staff, what are its profits? c) if the performing arts center can perfectly price discriminate and charge students, staff, and faculty three separate prices, what are its profits?