Meyers reported following pretax financial income (loss) for the years 2020 - 2022

weight of available evidence, it is more likely than not that one-hall of the venens UI IL TUULI forward will not be realized. b. Prepare the income tax section of the 2020 income statement beginning with the line "Operating loss before income taxes." c. Prepare the income tax section of the 2021 income statement beginning with the line "Income before income taxes." E19.25 (LO 3) (NOL Carryforward, Valuation Account Needed) Meyer reported the following pretax financial income (loss) for the years 2020-2022. 2020 $120,000 2021 (150,000) 2022 180,000 Pretax financial income (loss) and taxable income (loss) were the same for all years involved. The enacted tax rate was 20% for 2020-2022. Instructions a. Prepare the journal entries for the years 2020-2022 to record income tax expense, income taxes payable, and the tax effects of the loss carryforward, assuming that based on the weight of available evidence, it is more likely than not that one-fifth of the benefits of the loss carryforward will not be realized. b. Prepare the income tax section of the 2021 income statement beginning with the line "Income (loss) before income taxes." *E19.26 (LO 6) (Carryback and Carryforward of NOL, NO Valuation Account, No Temporary Differences) The pretax financial income (or loss) figures for Dan Lynch Company are as follows. 2015 $160,000 2016 250,000 2017 80,000 2018 (160,000)