The Manhattan Corporation started operations in $2020.$ The following is the operating history till end of $2023$ in millions:

$\backslash$table$[[$Year$,,2020,2021,2022,2023],[$Net Operating income $($Loss$),$$$500,,$$$600,$$$450,(620)$ loss$]]$

Tax rate $30\%$

Required: Assume this company is in an industry that is not allowed to carry$-$backward. Only to carry forward.

Calculate net income $($loss$)$ of this company after considering loss carryforward.

Make the income tax expense journal entry.