Martinez Inc. reports the following pretax income (loss) for both financial reporting purposes and tax purposes. Martinez Inc. follows IFRS.

Year		Accounting Income (Loss)				Tax Rate
2020		$142,000				18%
2021		94,000				18%
2022		(316,000	)			16%
2023		192,000				16%

The tax rates were all enacted by the beginning of 2020.

Prepare the journal entries for the years 2020 to 2023 to record income taxes, assuming the tax loss is first carried back and that at the end of each year, the loss carryforward benefits are judged more likely than not to be realized in the future. (Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem.)

Date Account Titles and Explanation Debit Credit (To record benefit from loss carryback.) (To record deferred tax benefit from loss carryforward.) (To record current tax expense.) (To record deferred tax expense.) Prepare the journal entries for 2022 and 2023 assuming that, based on the weight of available evidence, it is more likely than not that only 80% of the carryforward benefits will be realized (20% not expected to be realized). A valuation allowance account is not used by the company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record benefit from loss carryback.) (To record deferred tax benefit from loss carryforward.) (To record current tax expense.) (To record deferred tax expense.)