Problem 19-5 Monty Inc. reported the following pretax income (loss) and related tax rates during the years 20132019. Pretax Income (loss) Tax Rate 2013 $42,900 30 % 2014 26,500 30 % 2015 47,400 30 % 2016 82,600 40 % 2017 (166,700 ) 45 % 2018 67,300 40 % 2019 94,600 35 % Pretax financial income (loss) and taxable income (loss) were the same for all years since Monty began business. The tax rates from 20162019 were enacted in 2016. Prepare the journal entries for the years 20172019 to record income taxes payable (refundable), income tax expense (benefit), and the tax effects of the loss carryback and carryforward. Assume that Monty elects the carryback provision where possible and 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 2017 (To record carryback.) (To record carryforward.) 2018 2019 Prepare the portion of the income statement, starting with Operating loss before income taxes, for 2017. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Monty Inc. Income Statement (Partial) $ $ $ Prepare the portion of the income statement, starting with Income before income taxes, for 2018. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Monty Inc. Income Statement (Partial) $ $ $