In $2026$ the company had a downturn and they had a $($$$200,000)$ GAAP financial accounting loss for that year. The company had no new originating timing differences during $2026,$ but they did experience the two timing reversals that were projected when completing the $2025$ deferred tax schedule $($see question $1).$ Assume the company will have adequate operating income in $2027$ to cover any excess carryforwards that cannot be absorbed on the deferred tax schedule.

Prepare below a deferred income tax schedule for $2026.$

$20262027$

B$.$

Prepare the general journal entry to accrue income taxes for $2026.$