The pretax financial income $($or loss$)$ figures for ABC Co$.$ are as follows.

$2021$ $$355,000$

$2022116,000$

$2023(222,000)$

$2024(201,000)$

$2025161,000$

$2026121,000$

Pretax financial income $($or loss$)$ and taxable income $($loss$)$ were the same for all years involved. Assume a $45\%$ tax rate for $2021$ and

$2022,$ and a $20\%$ tax rate for the remaining years.

Prepare the journal entries for the years $2022$ to $2026$ to record income tax expense and the effects of the net operating loss carrybacks and carryforwards assuming ABC Co$.$ uses the carryback provision. All income and losses relate to normal operations. $($In recording the benefits of a loss carryforward, assume that no valuation account is deemed necessary.$)$