Skysong Corporation has pretax financial income (or loss) from 2015 through 2021 as follows. Income (Loss) Tax Rate 2015 $64,320 25 % 2016 (93,800 ) 20 % 2017 120,600 20 % 2018 40,200 20 % 2019 140,700 20 % 2020 (80,400) 25 % 2021 170,800 25 % Pretax financial income (loss) and taxable income (loss) were the same for all years since Skysong 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) Your answer is partially correct. 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 O for the amounts.) Account Titles and Explanation Deferred Tax Asset Benefit Due to Loss Carryback Debit 16080 Credit 16080