Beilman Inc. reports the following pretax income (loss) for both book and tax purposes. (Assume the carryback provision is used where possible for a net operating loss.)

Year		Pretax Income (Loss)			Tax Rate
2012		$100,000			42	%
2013		95,000			42	%
2014		(252,500	)		46	%
2015		125,200			46	%

The tax rates listed were all enacted by the beginning of 2012.

Prepare the journal entries for years 20122015 to record income tax expense (benefit) and income tax payable (refundable), and the tax effects of the loss carryback and loss carryforward, assuming that based on the weight of available evidence, it is more likely than not that one-half of the benefits of the loss carryforward will not be realized.