Quickly please!!

Do this for each year (20X1-20X4):

Assume that, on 01/01/20X1, Cypress Co. buys equipment for $80,000 with an estimated useful life of 4 years with no salvage value. The depreciation schedules for both book and tax purposes are below: You have also been provided the following information: - As of the beginning of 20X1, the enacted tax rate is 21%. Late in 20X3 a new tax law is enacted which will increase the income tax rate to 28%. This new rate will become effective on January 1 , 20X4, but the company is aware of the change at the end of 20X3. In tax years 20X1-20X4, companies cannot elect to carry any NOL back to past years. - Included in pretax income in 20X1 is $8,000 of dividends from the shares it owns of another U.S. corporation. These dividends are included in income for financial reporting purposes. However, only 50% of these dividends will be included in taxable income for the year. The remaining 50% will never be taxable. - In 20X2, the company receives $15,000 in advance from a client for products that will be delivered early next year (i.e., 20X3). This $15,000 advance payment is taxable when cash is received and has been properly recorded as unearned revenue for book purposes in 20X2. Assume that pretax accounting income (which properly records all of the above items for book purposes) for years 20X1-20X4 is reported on the income statement as follows: I In the tables provided on the next two pages, record the income tax journal entry (round dollar amounts to the nearest dollar) for each year and calculate and record the effective tax rate (reported as XX.XX% ) for each year in the space provided. Account titles to choose from are limited to: - Income Tax Expense (Benefit) - Income Tax Payable (Receivable) - Deferred Income Tax (DIT) Asset - Deferred Income Tax (DIT) Liability - Valuation Allowance (contra asset) Provide all supporting calculations in the space below each year's journal entry. Clearly label all supporting calculations. Year 20X1 (note - you might not need to use each line in the following table for your journal entry) Effective Tax Rate for 20X1