Pretax financial income (loss) and taxable income (loss) were the same for all years involved. The enacted tax rate was 34% for 2015 and 2016, and 40% for 20172019. Assume the carryback provision is used first for net operating losses.

Exercise 19-25 (Part Level Submission) Blossom reported the following pretax financial income (loss) for the years 2015-2019. $225,000 2015 350,000 2016 2017 91,000 2018 (564,000) 2019 179,000 Prepare the journal entries tor the years 2017-2019 to record income tax expense, income taxes payable (retundable), and the tax eftects ot the loss camryback and loss carrytorwand, assuming that based on the weight of available evider it is more likely than not that one-fifth of the benefits of the loss carryforward will not be realized. (Credit account titles are automatically indented when amount is entered. Do not indent manuallly. 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 2017 2018 (To record refund. (To rerrd allawanc.) 2019 (To record income taxes.) (To adjust allowance.) Exercise 19-25 (Part Level Submission) Blossom reported the following pretax financial income (loss) for the years 2015-2019. $225,000 2015 350,000 2016 2017 91,000 2018 (564,000) 2019 179,000 Prepare the journal entries tor the years 2017-2019 to record income tax expense, income taxes payable (retundable), and the tax eftects ot the loss camryback and loss carrytorwand, assuming that based on the weight of available evider it is more likely than not that one-fifth of the benefits of the loss carryforward will not be realized. (Credit account titles are automatically indented when amount is entered. Do not indent manuallly. 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 2017 2018 (To record refund. (To rerrd allawanc.) 2019 (To record income taxes.) (To adjust allowance.)