Can somebody please help me Thank you.

Income in the same amount as prelax financial income based on ithe following covenues and expenses: Ross was subject to the following income lax rates during thils period: 2017, 30%; and 2018,25\%. During 2019, Ross experienced a sever decrease in the demand forilts products. The company tried to offsel thls decrease wilh an expensive marketing campalgn, but was unsuccessful, Consequently, at lhe end of 2019 , Ross determined that its revenues were $60,000 and its expenses were $193,000 for both income taxes and financlal reportlng. Al the end of 2019 due to increasing competition, Ross deemed that lt was more likely lhan not that 50% of the future deductible amount will not be realized. The Income tax rate was 21% for the entire period, and no change in the lax rate had been enacted for future years. In 2020, Ross developed and introduced a new product lhat proved to be in high demand. For 2020, Ross reported revenues of $181,000 and expenses of $155,000 for both income taxes and financial reporting. The appllcable income tax rate was 21%. Required: 1. Prepare Ross's income tax journal entries at the end of 2019. 2. Prepare Ross's 2019 income slatement. Include a note for any operating loss carryforward. 3. Prepare the income tax journal entry at the end of 2020. for its producls. The company tired lo offsettithils decrease with an expensive markeling campaign, buh was unsuccessful) Al the end of 2019 due to increasing competition, Ross deemed that if was morellikely than nof that 50% of the future dec income taxiate was 21% for the entire period, and no change in the lax rate had been enacted for future years. In 2020, Ross developed and introduced a new product that proved to be in high demand. For 2020, Ross reported reven for bolh income laxes and financial reporting. The applicable income tax rate was 21%. Required: 1. Prepare Ross's income tax journal entries at the end of 2019. 2. Prepare Ross's 2019 income slatement. Include a note for any operating loss carryfonvard. 3. Prepare the income tex journal entry at the end of 2020. 4. Prepare Ross's 2020 income statement. General Ledger ASSETS REVENUE 111 Cash 411 Sales Rovenue 121 Accounts Recelvable 125 incomis Tax Refund Recelvable EXPENSES 141 Inventory 500 Coslof Goods Sold 152 Prepald Insurance 511 Insurance Expense 160 Deferred Tax Assel 512 Ulilities Expenso 169 Allowance to Reduce Deferred Tax Assel to Reallzable Value 621 Salarles Expense 181 Equipment 632 Bad Debt Expenso 198 Accumulated Deprecialion 540 Interest Expense 541 Depreciation Expense LIABILITIES 559 Miscellaneous Expenses 211 Accounts Payable 910 Income Tax Expense 231 Salarles Payable 911 Income Tax Benent from Operating Loss Carryforward 250 Unearned Revenue 912 Income Tax Benefit from Operating Loss Carryback 260 Deferred Tax Llability 261 income Taxes Payable Amountidoscriptlons Expenses Nel income Nelloss Prelax operating income Prelax operating loss Revenues 1. Prepore Ross's income tax journal entries on December 31,2019. General Journal lnstructions How does sradins work? 3. Prepere the income tex journel entry on December 31, 2020. General Journollnstcuclions How does grading work? 2. Prepare Ross's 2019 income stetement, Include a note for any opereling loss carryfonvard. Income Stalements instructions Question not attempted. 4. Prepare Ross's 2020 income slatement. Income Statement Instructions Question not attempted