E19.9 (LO3) The pretax financial income (or loss) (Carryback and Carryforward of NOL, No Temporary Differences) figures for Synergetics Company are as follows. 2014 $160,000 2015 250,000 2016 90,000 2017 (160,000) 2018 (350,000) 2019 120,000 2020 100,000 Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 45% tax rate for 2014 and 2015 and a 40% tax rate for the remaining years. Instructions Prepare the journal entries for the years 2016 to 2020 to record income tax expense and the effects of the net operating loss carrybacks and carryforwards, assuming Synergetics Company uses the carryback provision. All income and losses relate to normal operations. (In recording the benefits of a loss carryforward, assume that it is probable the loss carryforward will be realized.)