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.

2012

Income Tax Exense 42,000

Income Tax Payable 42,000

2013

Income Tax Expense 39,900

Income Tax Payable 39,900

2014

Income Tax Refund Receivable 81,900

Deferred Tax Asset ????

Benefit Due to Loss Carryback 81,900

Benefit due to loss Carryforward ????

Benefit due to loss carryforward ?????

Allowance to reduce Deferred Tax Asset ????

2015

Income Tax Expense 57,592

Deferred Tax Asset ????

Income Tax Payable ????

Allowance to reduce deferred tax asset ????

Benefit due to loss carryfoward ?????