Prepare the journal entries for each of the years $2020$ to $2023$ to record income taxes, assuming at

December $31,2022,$ that it was more likely than not that the company would not be able to benefit from

the remaining losses available to carry forward. $($List all debit entries before credit entries. Credit

account titles are automatically indented when the 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 Prepare the income tax section of the income statements for each of the years $2020$ to $2023,$ beginning

with the line "Income $($loss$)$ before income tax." $($Enter negative amounts using either a negative sign

preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).$ Do not leave any answer field blank. Enter

$0$ for amounts.$)$

IVANHOE INC.

$($Partial$)$ Income Statements

$2020$

$

$2020$

$\begin{array}{cc}2020& \text{\$}\\ & ?\end{array}$

$2022$

$

$

$20232023,$$Ivanhoe Inc. reports the following incomes $($losses$)$ for both book and tax purposes $($assume the carryback

provision is used where possible$)$:

The tax rates listed were all enacted by the beginning of $2020.$