Home 3: Mobe Mobey Co. reported the following amounts of taxable income (operating loss) for its first 3 years of operations: 2019 (700,000) 2020 1,200,000 For each year, Mobe Mobey had no temporary differences, and its effective income tax rate was 30% at all relevant times. In its 2019 income tax return, Mobe Mobey elected to carry back the maximum amount of loss possible. Furthermore, Mobe Mobey determined that it was more likely than not that the full benefit of any loss carryforward would be realized. In its 2020 income statement, what is the entry to record the income tax expense for 2020