Nash Inc reported the following pretax income (loss) and related tax rates during the years 20192022 Pretax Income (loss) Tax Rate 2019 $42,500 40 2020 (182,000) 40 2021 232,000 20 2022 76,600 20 Pretax financial income (loss) and taxable income (loss) were the same for all years since Nash began business The tax rates from 20192022 were enacted in 2019 Prepare the journal entries for the years 20202022 to record income taxes payable (refundable), income tax expense (benefit), and the tax effects of the loss carryforward Assume that Nash expects to realize the benefits of any loss carryforward in the year that immediately follows the loss year (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 ) Date Account Titles and Explanation Debit Credit 2020 2021 2022 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the portion of the income statement, starting with Operating loss before income taxes, for 2020 (Enter negative amounts using either a negative sign preceding the number e g 45 or parentheses e g (45) ) Nash Inc Income Statement (Partial) December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020 DividendsExpensesIncome Tax BenefitIncome Tax Expense Loss CarryforwardIncome Tax Expense Loss CarrybackNet Income (Loss)Operating Loss before Income TaxesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues $ DividendsExpensesIncome Tax BenefitIncome Tax Expense Loss CarryforwardIncome Tax Expense Loss CarrybackNet Income (Loss)Operating Loss before Income TaxesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues DividendsExpensesIncome Tax BenefitIncome Tax Expense Loss CarryforwardIncome Tax Expense Loss CarrybackNet Income (Loss)Operating Loss before Income TaxesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues DividendsExpensesIncome Tax BenefitIncome Tax Expense Loss CarryforwardIncome Tax Expense Loss CarrybackNet Income (Loss)Operating Loss before Income TaxesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues $ SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the portion of the income statement, starting with Income before income taxes, for 2021 (Enter negative amounts using either a negative sign preceding the number e g 45 or parentheses e g (45) ) Nash Inc Income Statement (Partial) December 31, 2021For the Year Ended December 31, 2021For the Quarter Ended December 31, 2021 CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax Benefit Due to Loss CarrybackIncome Tax Benefit Due to Loss CarryforwardIncome Tax ExpenseNet Income (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues $ CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax Benefit Due to Loss CarrybackIncome Tax Benefit Due to Loss CarryforwardIncome Tax ExpenseNet Income (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues Current Deferred Dividends Expenses Income before Income Taxes Income Tax Benefit Due to Loss Carryback Income Tax Benefit Due to Loss Carryforward Income Tax Expense Net Income (Loss) Retained Earnings, January 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues $ Current Deferred Dividends Expenses Income before Income Taxes Income Tax Benefit Due to Loss Carryback Income Tax Benefit Due to Loss Carryforward Income Tax Expense Net Income (Loss) Retained Earnings, January 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax Benefit Due to Loss CarrybackIncome Tax Benefit Due to Loss CarryforwardIncome Tax ExpenseNet Income (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues $

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Nash Inc. reported the following pretax income (loss) and related tax rates during the years 20192022. Pretax Income (loss) Tax Rate 2019 $42,500 40 %

Nash Inc. reported the following pretax income (loss) and related tax rates during the years 20192022.

	Pretax Income (loss)	Tax Rate
2019	$42,500	40	%
2020	(182,000)	40	%
2021	232,000	20	%
2022	76,600	20	%

Pretax financial income (loss) and taxable income (loss) were the same for all years since Nash began business. The tax rates from 20192022 were enacted in 2019.

Prepare the journal entries for the years 20202022 to record income taxes payable (refundable), income tax expense (benefit), and the tax effects of the loss carryforward. Assume that Nash expects to realize the benefits of any loss carryforward in the year that immediately follows the loss year. (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.)

Date	Account Titles and Explanation	Debit	Credit
2020

2021


2022

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Prepare the portion of the income statement, starting with Operating loss before income taxes, for 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Nash Inc. Income Statement (Partial) December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020
DividendsExpensesIncome Tax BenefitIncome Tax Expense - Loss CarryforwardIncome Tax Expense - Loss CarrybackNet Income / (Loss)Operating Loss before Income TaxesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues		$
DividendsExpensesIncome Tax BenefitIncome Tax Expense - Loss CarryforwardIncome Tax Expense - Loss CarrybackNet Income / (Loss)Operating Loss before Income TaxesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
DividendsExpensesIncome Tax BenefitIncome Tax Expense - Loss CarryforwardIncome Tax Expense - Loss CarrybackNet Income / (Loss)Operating Loss before Income TaxesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
DividendsExpensesIncome Tax BenefitIncome Tax Expense - Loss CarryforwardIncome Tax Expense - Loss CarrybackNet Income / (Loss)Operating Loss before Income TaxesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues		$

SHOW LIST OF ACCOUNTS
LINK TO TEXT

Prepare the portion of the income statement, starting with Income before income taxes, for 2021. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Nash Inc. Income Statement (Partial) December 31, 2021For the Year Ended December 31, 2021For the Quarter Ended December 31, 2021
CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax Benefit Due to Loss CarrybackIncome Tax Benefit Due to Loss CarryforwardIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues		$
CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax Benefit Due to Loss CarrybackIncome Tax Benefit Due to Loss CarryforwardIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
Current Deferred Dividends Expenses Income before Income Taxes Income Tax Benefit Due to Loss Carryback Income Tax Benefit Due to Loss Carryforward Income Tax Expense Net Income / (Loss) Retained Earnings, January 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues	$
Current Deferred Dividends Expenses Income before Income Taxes Income Tax Benefit Due to Loss Carryback Income Tax Benefit Due to Loss Carryforward Income Tax Expense Net Income / (Loss) Retained Earnings, January 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues

CurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax Benefit Due to Loss CarrybackIncome Tax Benefit Due to Loss CarryforwardIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues		$