Chek Submit to complete this assessment Question 4 Fabiola Zhupa reports the following pre-lax incomes (losses) for both financial reporting purposes and fax purposes Tax Rate Accounting Income Year (Loss) 2018 $ 1,000,000 25.0% 2019 2,500,000 30.0% 2020 (7,500,000) 40.0% 2021 6.000.000 50.0% The tax rates listed were all enacted by the beginning of 2018. Fabiola Zhupa follows Required IFRS 1 Assume that it is more likely than not that 25.0% of the carry forward benefits will not be realized Prepare the compound journal entries for 2020 and 2021. Debit Credit Date Account 2. Prepare the income tax section of the 2020 and 2021 income statements beginning with the line "Income (loss) before income tax For the toolbar, press ALT+F10 (PC or ALT+FN+F10 (Mac). BI S Paragranh