The accounting income (loss) and related tax rates during the years 2011 to 2017 follows:

Year	Accounting income (loss)	Tax Rate
2011	$210,000	20%
2012	75,000	20%
2013	180,000	20%
2014	240,000	30%
2015	(615,000)	35%
2016	210,000	30%
2017	270,000	25%

Accounting income (loss) and taxable income (loss) were the same for all years since the company began. The tax rates from 2014 to 2017 were enacted in 2014.

Required:

Prepare the journal entries to record income taxes for the years 2015 to 2017. Assume the company uses the carryback provision where possible and expects to realize the benefits of any loss carryforward in the year immediately following the loss.

Indicate the effect on the December 31, 2015 balance sheet if the company follows ASPE. How would it be different if the company follows IFRS?

Beginning with Loss before income tax show the bottom of the income statement for 2015.

Beginning with Loss before income tax show the bottom of the income statement for 2016.

Prepare the journal entries for the years 2015 to 2017 to record income taxes, assuming the company uses the carry back provision where possible but is uncertain if it will realize the benefits of any loss carry forward in the future. (Ignore valuation account method under ASPE).