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Sage Inc. reported the following pretax income (loss) and related tax rates during the years 2013-2019. Pretax Income (loss) Tax Rate 2013 $38,600 30 %

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Sage Inc. reported the following pretax income (loss) and related tax rates during the years 2013-2019. Pretax Income (loss) Tax Rate 2013 $38,600 30 % 2014 23,900 30 % 2015 48,900 30 % 2016 73,600 2017 (196,900) 45% 2018 74,800 2019 98,500 40 % Pretax financial income (loss) and taxable income (loss) were the same for all years since Sage began business. The tax rates from 2016-2019 were enacted in 2016. Prepare the journal entries for the years 2017-2019 to record income taxes payable (refundable), income tax expense (benefit), and the tax effects of the loss carryback and carryforward. Assume that Sage 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 o for the amounts.) Date Account Titles and Explanation Debit Credit 2017 (To record carryback.) (To record carryback.) (To record carryforward.) 2018 2019 LINK TO TEXT 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).) Sage Inc. Income Statement (Partial) Prepare the portion of the income statement, starting with "Operating loss before income taxes," for 2017. (Enter lo using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Sage Inc. Income Statement (Partial) LINK TO TEXT 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).) Sage Inc. Income Statement (Partial)

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