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Please fill out every space. thank you Nash Inc. reports the following pretax income (loss) for both book and tax purposes. Year Tax Rate 2018

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Please fill out every space. thank you

Nash Inc. reports the following pretax income (loss) for both book and tax purposes. Year Tax Rate 2018 20 % Pretax Income (Loss) $130,000 94,000 (82,000). 112,000 2019 20 % 2020 25 % 2021 25 % 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-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.) Date Account Titles and Explanation Debit Credit 2018 Income Tax Expense Income Tax Payable 2019 Income Tax Expense Income Tax Payable 2020 Deferred Tax Asset Income Tax Expense (To record income taxes.) (To record allowance.) 2021 (To record income taxes.) (To adjust allowance.)

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