2. The Williams Corporation, which operates on a calendar year, started its operations on January 1, 2017.
Williams pay corporate income taxes at the rate of				35%
Williams Corporation has no permanent or timing differences (no differences between reported accounting profits and taxable income) in any calendar year.
Below is Williams Corporation GAAP (Accounting) Income Before Taxes for the following calendar year ends:
	2015	$100,000
	2016	$500,000
	2017	($400,000)
	2018	($300,000)
	2019	$300,000
a) Prepare the 2017 year end journal entry for income tax expenses (benefit).
b) Assume that Williams is unable to determine if the firm will be profitable in the future when preparing the 2018 journal entry (entries)
Prepare the 2018 year end journal entry (entries) for income tax expenses (benefit) .
c) Prepare the 2019 year end journal entry (entries) for income tax expenses.