Exercise 19-24 Beilman Inc. reports the following pretax income (loss) for both book and tax purposes. (Assume the carryback provision is used where possible for a net operating loss.) Year Pretax Income (Loss) Tax Rate 2015 $120,000 40 % 2016 90,000 40 % 2017 (280,000 ) 45 % 2018 120,000 45 % The tax rates listed were all enacted by the beginning of 2015. Partially correct answer. Your answer is partially correct. Try again. Prepare the journal entries for years 20152018 to record income tax expense (benefit) and income taxes payable (refundable), and the tax effects of the loss carryback and loss carryforward, assuming that based on the weight of available evidence, it is more likely than not that one-half of the benefits of the loss carryforward will not be realized. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit 2015 Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer 2016 Entry field with correct answer Entry field with incorrect answer now contains modified data Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with incorrect answer now contains modified data 2017 Entry field with correct answer Entry field with incorrect answer now contains modified data Entry field with correct answer Entry field with correct answer Entry field with incorrect answer now contains modified data Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with incorrect answer now contains modified data Entry field with correct answer Entry field with correct answer Entry field with incorrect answer now contains modified data (To record refund.) Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer (To record allowance.) 2018 Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer (To record income taxes.) Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer (To adjust allowance.) Partially correct answer. Your answer is partially correct. Try again. Prepare the income tax section of the 2017 income statement beginning with the line Operating loss before income taxes. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Beilman Inc. Income Statement (Partial) Entry field with correct answer Entry field with incorrect answer $Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer $Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer $Entry field with incorrect answer Incorrect answer. Your answer is incorrect. Try again. Prepare the income tax section of the 2018 income statement beginning with the line Income before income taxes. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Beilman Inc. Income Statement (Partial) Entry field with incorrect answer Entry field with incorrect answer $Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer $Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer $Entry field with incorrect answer