Stellar Inc. reports the following pretax income (loss) for both book and tax purposes. (Assume the carryback provision is used where possible for a net operating loss.)

Year		Pretax Income (Loss)			Tax Rate
2015		$114,000			40	%
2016		83,000			40	%
2017		(253,000)			45	%
2018		115,000			45	%

The tax rates listed were all enacted by the beginning of 2015.

Prepare the journal entries for years 20152018 to record income tax expense (benefit) and income taxes payable (refundable), and the tax effects of the loss carryback and loss carryforward, assuming that based on the weight of available evidence, it is more likely than not that one-half of the benefits of the loss carryforward will not be realized.

(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.)

Date Account Titles and Explanation Debit Credit 2015 Income Tax Expense 45600 Income Tax Payable 45600 2016 Income Tax Expense IT 33200 2 Income Tax Payable 33200 2017 Income Tax Refund Receivable 78800 dg dud: CT COTHuht: ili Deferred Tax Asset Benefit Due to Loss Carryback Benefit Due to Loss Carryforward (To record refund.) Benefit Due to Loss Carryforward Allowance to Reduce Deferred Tax Asset to Expected (To record allowance.) 2018 Income Tax Expense TDeferred Tax Asset Income Tax Payable cincinin (To record income taxes.) Allowance to Reduce Deferred Tax Asset to Expected Benefit Due to Loss Carryforward (To adjust allowance.)