APS Corporation reported a pretax operating loss of $500,000 for financial reporting purposes in 2020. The enacted tax rate is 30%. There were no temporary differences in the beginning of the year and none originating in 2020.

APS anticipated that it is more likely than not that half of the deferred tax asset will ultimately be realized.

a. Prepare a journal entry (with 4 lines) to record APS Company's tax provision for the year 2020.

b. Compute APS' net loss for 2020.

c. Compute the net realizable value of the deferred tax asset at the end of 2020.

(Please, show workings)