Nancy Jackson Corporation has pretax financial income $($or loss$)$ from $2020$ through $2026$ as follows.

Pretax financial income $($loss$)$ and taxable income $($loss$)$ were the same for all years since Jackson has been in business. In recording the

benefits of a loss carryforward, assume that it is more likely than not that the related benefits will be realized.

Indicate what the income tax expense portion of the income statement for $2021$ should look like. Assume all income $($loss$)$ relates

to continuing operations. $($Enter negative amounts using either a negative sign preceding the number es$,-45$ or parentheses es$.(45).)$

KANCY JACKSON CORPORATION

Income Statement $($Partial$)$

For the Year Ended December $31,2021$

eTextbook and Media

List of Accounts

Allowance to Reduce Deferred Tax Asset to Expected Realizable Value

Benefit Due to Loss Carryback

Benefit Due to Loss Carryforward

Deferred Tax Asset

Deferred Tax Liability

Income Tax Expense

Income Tax Payable

Income Tax Refund Receivable

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