Prepare the portion of the income statement, starting with Operating loss before income taxes, for 2020.

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

		Pretax Income (loss)			Tax Rate
2019		$83,200			40	%
2020		(187,200)			40	%
2021		208,000			20	%
2022		104,000			20	%

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

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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 Sunland 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	Deferred Tax Liability	41600
	Income Tax Expense		41600
2021	Income Tax Expense	41600
	Deferred Tax Asset		16640
	Income Tax Payable		24960
2022	Income Tax Expense	20800
	Income Tax Payable		20800