Question 1 (15 points) Saved The following data represents the complete taxable income history for a corporation: Year 2014 2015 2016 Taxable Income $15,000 10,000 20,000 15,000 (60,000) (25,000) 55,000 Tax Rate 30% 30% 28% 27% 25% 28% 30% 2017 2018 2019 2020 Tax rates are effective for the year indicated. The rates were enacted in the year in which they became effective. Taxable income (loss) was equal to accounting income (loss) in each year. Required: Prepare income tax entries for 2018, 2019 and 2020. In any year, management estimates the corporation will be able to utilize all loss carryforward balances