Kingbird Inc. reports the following pretax income (loss) for both book and tax purposes. Year Tax Rate 2018 20 % Pretax Income (Loss) $120,000 97,000 (84,000) 125.000 2019 20 % 2020 25 % 2021 25 % The tax rates listed were all enacted by the beginning of 2018. Prepare the journal entries for years 2018-2021 to record income tax expense (benefit) and income taxes payable, and the tax effects of the loss carryforward, assuming that based on the weight of available evidence, it is more likely than not that one-half of the benefits of the loss carryforward will not be realized. (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 for the amounts.) Date Account Titles and Explanation Debit Credit 2018 Income Tax Expense 24000 Income Tax Payable 24000 2019 Income Tax Expense 19400 Income Tax Payable 19400 2020 Income Tax Refund Receivable Deferred Tax Asset (To record income taxes.) Benefit Due to Loss Carryforward Allowance to Reduce Deferred Tax Asset to Expected Realiz (To record allowance.) Income Tax Expense 2021 Deferred Tax Asset Income Tax Payable (To record income taxes.) Allowance to Reduce Deferred Tax Asset to Expected Realiz Prepare the income tax section of the 2020 income statement beginning with the line "Operating loss before income taxes. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45).) Kingbird Inc. Income Statement (Partial) For the Year Ended December 31, 2020 $ Operating Loss before Income Taxes Income Tax Benefit Deferred > Net Income/(Loss) Prepare the income tax section of the 2021 income statement beginning with the line"Income before income taxes." (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45).) Kingbird Inc. Income Statement (Partial) For the Year Ended December 31, 2021 Income before Income Taxes Income Tax Expense Current Deferred Net Income /(Loss) $