The pretax financial income (or loss) figures for Sweet Company are as follows. 2015 2016 2017 $175,000 246,000 76,000 2018 (175.000) 2019 (356,000) 2020 116,000 2021 104,000 Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 25% tax rate for 2015 and 2016 and a 20% tax rate for the remaining years. Prepare the journal entries for the years 2017 to 2021 to record income tax expense and the effects of the net operating loss carryforwards. All income and losses relate to normal operations. (In recording the benefits of a loss carryforward, assume that no valuation account is deemed necessary.) (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 for the amounts.) Account Titles and Explanation Debit Credit 2017 Income Tax Expense Income Tax Payable 2018 Income Tax Refund Receivable Benefit Due to Loss Carryback 2012 Income Tax Refund Receivable Benefit Due to Loss Carryback 2020 Deferred Tax Asset Benefit Due to Loss Carryback 2021 Income Tax Expense Deferred Tax Asset T. LI. I. MAI: The pretax financial income (or loss) figures for Sweet Company are as follows. 2015 2016 2017 $175,000 246,000 76,000 2018 (175.000) 2019 (356,000) 2020 116,000 2021 104,000 Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 25% tax rate for 2015 and 2016 and a 20% tax rate for the remaining years. Prepare the journal entries for the years 2017 to 2021 to record income tax expense and the effects of the net operating loss carryforwards. All income and losses relate to normal operations. (In recording the benefits of a loss carryforward, assume that no valuation account is deemed necessary.) (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 for the amounts.) Account Titles and Explanation Debit Credit 2017 Income Tax Expense Income Tax Payable 2018 Income Tax Refund Receivable Benefit Due to Loss Carryback 2012 Income Tax Refund Receivable Benefit Due to Loss Carryback 2020 Deferred Tax Asset Benefit Due to Loss Carryback 2021 Income Tax Expense Deferred Tax Asset T. LI. I. MAI