Sage Corporation has pretax financial income (or loss) from 2015 through 2021 as follows.

		Income (Loss)			Tax Rate
2015		$50,880			25	%
2016		(74,200	)		20	%
2017		95,400			20	%
2018		31,800			20	%
2019		111,300			20	%
2020		(63,600	)		25	%
2021		137,200			25	%

Pretax financial income (loss) and taxable income (loss) were the same for all years since Sage has been in business. In recording the benefits of a loss carryforward, assume that it is more likely than not that the related benefits will be realized.

(a)

What entries for income taxes should be recorded for 2016? (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.)

Account Titles and Explanation	Debit	Credit

(b)

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(c)

The parts of this question must be completed in order.