how to use a given deferred tax liability with deferred tax assets?

Meatloaf Limited is a producer of food products that was established in 2015. The company is subject to U.S. federal taxes.

In its first year of operations, Meatloaf Limited made a loss of $100,000. In 2016, the company made a profit of $200,000. In 2017, Meatloaf Limited made a large loss of $300,000.

At the end of 2017, the company also had deferred tax liabilities of $40,000 on its books. Looking forward, the company expects to earn substantial pre-tax profits in future years.

During 2018, the enacted corporate tax rate changed from 40% to 35%. There were no other changes to the company's deferred taxes during 2018.

Journal entries I completed for each year

Is this correct?

2015Deferred Tax Asset(100,000 X .4)40,000

Benefit to Loss Carry forward40,000

2016Income Tax Expense(200,000 X .4)80,000

Deferred Tax Asset40,000

Income Tax Payable40,000

2017Income Tax Refund Receivable

(100,000 X .4)40,000

Benefit to Loss Carryback40,000

Deferred Tax Asset40,000

Benefit to Loss Carry forward40,000

Income Tax Expense40,000

Deferred Tax Liability40,000

(200,000 X .4) = 80,000 - 40,000 = 40,000