Exercise 19-22 Sunland Corporation has pretax financial income (or loss) from 2015 through 2021 as follows. 2015 2016 2017 2018 2019 2020 2021 Income (Loss) $70,080 (219,000) 131,400 43,800 153,300 (87,600 87,600 Tax Rate 25% 20% 20% 20% 20% 25% 25% Pretax financial income (loss) and taxable income (loss) were the same for all years since Sunland has been in business. In recording the benefits of a loss carryforward, assume that it is more likely than not that the related benefits will be realized. Your answer is partially correct. Try again. How should the income tax expense section of the income statement for 2020 appear? (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Sunland Corporation Income Statement (Partial) T For the Year Ended December 31, 2020 A T Operating Loss before Income Taxes -87,600 Income Tax Expense - Deferred -21,900 T Net Income / (Loss) -109,500 Your answer is partially correct. Try again. How should the income tax expense section of the income statement for 2017 appear? (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Sunland Corporation Income Statement (Partial) T For the Year Ended December 31, 2017 A T Income before Income Taxes 131,400 T Income Tax Benefit Due to Loss Carryforward Income Tax Expense -26,280 Net Income / (Loss) 105,120 SHOW LIST OF ACCOUNTS Your answer is partially correct. Try again. Indicate what the income tax expense portion of the income statement for 2016 should look like. Assume all income (loss) relates to continuing operations. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Sunland Corporation Income Statement (Partial) T For the Year Ended December 31, 2016 A T Operating Loss before Income Taxes -219,000 T Income Tax Benefit T Income Tax Expense -43,800 T Net Income / (Loss) Net Income / (Loss) -262,800