Shamrock Corporation has pretax financial income (or loss) from 2015 through 2021 as follows. Income (Loss) Tax Rate

2015 $63,360 25 %

2016 (92,400 ) 20 %

2017 118,800 20 %

2018 39,600 20 %

2019 138,600 20 %

2020 (79,200 ) 25 %

2021 168,400 25 %

Pretax financial income (loss) and taxable income (loss) were the same for all years since Shamrock 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.

What entries for income taxes should be recorded for 2016? (only two account titles)

Account Title	Debit	Credit