Marin Inc. reports the following pretax income (loss) for both book and tax purposes. (Assume the carryback provision is used where possible for a net operating loss.)

Year		Pretax Income (Loss)			Tax Rate
2015		$113,000			40	%
2016		97,000			40	%
2017		(308,000)			45	%
2018		117,000			45	%

The tax rates listed were all enacted by the beginning of 2015.

Prepare the income tax section of the 2018 income statement beginning with the line Income before income taxes. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)