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Nash Inc. reports the following pretax income (loss) for both book and tax purposes. The tax rates listed were all enacted by the beginning of

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Nash Inc. reports the following pretax income (loss) for both book and tax purposes. The tax rates listed were all enacted by the beginning of 2018 . Prepare the journal entries for years 2018-2021 to record income tax expense (benefit) and 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 thalf of the benefits of the loss carryforward will not be realized. (Credit account tittes are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tieles and enter O for the amounts) Prepare the journal entries for years 2018-2021 to record income tax expense (benefit) and 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-half of the benefits of the loss carryforward will not be realized. (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 O for the amounts.) 2021 income Tas Expense Income Tax Payable Delerred Tax Asset (To record income taves.) (To adjust allowance.) Prepare the income tax section of the 2020 income statement beginning with the line "Operating loss before income taxes." (Enter negative amounts using either a negative sign preceding the number es. 45 or parentheses e. . (45).) Prepare the income tax section of the 2021 income statement beginning with the line "Income before income taxes." (Enter negative amounts using either a negative sign preceding the number eg. 45 or parentheses eg. (45).)

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