Marigold Corporation has pretax financial income (or loss) equal to taxable income (or loss) from 2009 through 2017 as follows:

		Income (Loss)			Tax Rate
2009		$33,060			30	%
2010		45,600			30	%
2011		19,380			35	%
2012		54,720			50	%
2013		(171,000	)		40	%
2014		102,600			40	%
2015		34,200			40	%
2016		119,700			40	%
2017		(68,400	)		45	%

Pretax financial income (loss) and taxable income (loss) were the same for all years since Marigold has been in business. Assume the carryback provision is employed for net operating losses. In recording the benefits of a loss carryforward, assume that it is more likely than not that the related benefits will be realized.

What entries for income taxes should be recorded for 2013? (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 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
(To record carryback.)
(To record carryforward.)

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Indicate what the income tax expense portion of the income statement for 2013 should look like. Assume all income (loss) relates to continuing operations. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Marigold Corporation Income Statement (Partial)
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What entry for income taxes should be recorded in 2014? (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 0 for the amounts.)

Account Titles and Explanation	Debit	Credit

How should the income tax expense section of the income statement for 2014 appear? (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Marigold Corporation Income Statement (Partial)
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