Dean company was established at the beginning of 2020, the following is a summary of the company's performance for the first 7 years of its operations: Year Tax rate Net operating income (Loss) 2020 270,000 20% 2021 (280,000) 20% 2022 300,000 25% 2023 (160,000) 25% 2024 (180,000) 30% 2025 190,000 30% 2026 500,000 30% Assuming the following: Assume that the company uses the carryback option for net operating losses Required: A. You are required to record the journal entries for all years B. You are required to prepare the income tax expense section of the income statement for 2024 1 - iii III C? Dean company was established at the beginning of 2020, the following is a summary of the company's performance for the first 7 years of its operations: Year Tax rate Net operating income (Loss) 2020 270,000 20% 2021 (280,000) 20% 2022 300,000 25% 2023 (160,000) 25% 2024 (180,000) 30% 2025 190,000 30% 2026 500,000 30% Assuming the following: Assume that the company uses the carryback option for net operating losses Required: A. You are required to record the journal entries for all years B. You are required to prepare the income tax expense section of the income statement for 2024 1 - iii III C