income$/($losses$)$:

Year Income$/($Loss$)$ Tax Rate

$202175,0000\mathrm{.}30$

$202250,0000\mathrm{.}35$

$2023(150,000)0\mathrm{.}35$

Required:

a$.$ Prepare the journal entry that Vaden needs to make in $2023,$ assuming that it is more likely than not that any loss carryforward will be realized?

b$.$ Prepare the income tax section of the income statement for $2023,$ beginning with Pretax Net Loss.

c$.$ What additional entry would Vaden need to make in $2023$ if it is more likely than not that any loss carryforward will NOT be realized?