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I need solution for these wrong answers Coronado Inc. reported the following pretax income (loss) and related tax rates during the years 2019-2022. Pretax Income

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Coronado Inc. reported the following pretax income (loss) and related tax rates during the years 2019-2022. Pretax Income (loss) Tax Rate 2019 $43,600 40 % 2020 (192,000) 40 % 2021 242,000 20 % 2022 72,900 20 % Pretax financial income (loss) and taxable income (loss) were the same for all years since Coronado began business. The tax rates from 2019-2022 were enacted in 2019. Your answer is partially correct. Prepare the journal entries for the years 2020-2022 to record income taxes payable (refundable), income tax expense (benefit), and the tax effects of the loss carryforward. Assume that Coronado expects to realize the benefits of any loss carryforward in the year that immediately follows the loss year. (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 O for the amounts.) Date Account Titles and Explanation Debit credit 2020 Income Tax Refund Receivable 76800 Deferred Tax Asset 76800 2021 Income Tax Expense 38400 Income Tax Payable 10000 Deferred Tax Asset 48400 2022 Income Tax Expense 14580 Income Tax Payable 14580 Prepare the portion of the income statement, starting with "Operating loss before income taxes," for 2020. (Enter negative amounts using either a negative sign preceding t parentheses e.g. (45).) Coronado Inc. Income Statement (Partial) For the Year Ended December 31, 2020 Operating Loss before Income Taxes -192000 Total Expenses Income Tax Expense - Deferred 7680 Net Income / (Loss) 184320 e Textbook and Media List of Accounts Your answer is partially correct. e.g. (45)J Prepare the portion of the income statement, starting with "Income before income taxes." for 2021. (Enter negative amounts using either a negative sign preceding the number e.s. Coronado Inc. Income Statement (Partial) For the Year Ended December 31,2021 Income before Income Taxes 242000 Income Tax Expense Current 10000 Deferred 48400 58400 Net Income/ (Loss) 183600

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