Kingbird Ltd. reported the following pretax financial income (loss) for the years 20222024.

2022		HK$144,000
2023		(180,000)
2024		216,000

Pretax financial income (loss) and taxable income (loss) were the same for all years involved. The enacted tax rate was 40% for 2022-2024.

(a)

Prepare the journal entries for the years 20222024 to record income tax expense, income taxes payable, and the tax effects of the loss carryforward, assuming that it is probable that only four-fifths (80%) of the benefits of the loss carryforward will be realized.