Felicia Rashad Corporation has pretax financial income (or loss) equal to taxable income (or loss) from 2006 through 2014 as follows.

		Income (Loss)			Tax Rate
2006		$86,710			30	%
2007		119,600			30	%
2008		50,830			35	%
2009		143,520			50	%
2010		(448,500	)		40	%
2011		269,100			40	%
2012		89,700			40	%
2013		313,950			40	%
2014		(179,400	)		45	%

Pretax financial income (loss) and taxable income (loss) were the same for all years since Rashad has been in business. Assume the carryback provision is employed for net operating losses. In recording the benefits of a loss carryforward, assume that it is more likely than not that the related benefits will be realized.

What entry for income taxes should be recorded in 2014? (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Entry field with correct answer Entry field with incorrect answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with incorrect answer Show List of Accounts Link to Text Partially correct answer. Your answer is partially correct. Try again. How should the income tax expense section of the income statement for 2014 appear? (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Felicia Rashad Corporation Income Statement (Partial) Year ended December 31, 2014 Entry field with correct answer $Entry field with correct answer Entry field with correct answer Entry field with incorrect answer Entry field with correct answer $Entry field with incorrect answer Show List of Accounts