Lannister company started operating in 2019, and you have the following operating income for the years 2019-2022, assuming that the company had no temporary or permanent differnces during those years:

2019	2020	2021	2022
50,000	(170,000)	200,000	(100,000)
20%	25%	40%	40%

assume that tax rate was enacted at the beginning of 2019.

assume that the company uses the carryback option for net operating losses

assume that the company did expect to operate profitably in the future

Required: journalize the required journal entries for the years 2019-2022 and prepare the income statement for 2020 and 2021