Blue Spruce Inc. reports the following incomes (losses) for both book and tax purposes (assume the carryback provision is used where possible):

Accounting Income Year (Loss) and Tax Rate:

2014 $135,000 25%

2015 115,000 25%

2016 (320,000) 30%

2017 49,000 30%

The tax rates listed were all enacted by the beginning of 2014.

Prepare the journal entries for each of the years 2014 to 2017 to record income taxes, assuming at December 31, 2016, that it was more likely than not that the company would not be able to benefit from the remaining losses available to carry forward.

2014

2015

2016

2017