Whispering Inc. reported the following pretax income (loss) and related tax rates during the years 20132019.

Pretax Income (loss) Tax Rate 2013 $42,900 30 % 2014 26,500 30 % 2015 47,400 30 % 2016 82,600 40 % 2017 (166,700 ) 45 % 2018 67,300 40 % 2019 94,600 35 %

Pretax financial income (loss) and taxable income (loss) were the same for all years since Whispering began business. The tax rates from 20162019 were enacted in 2016.

Prepare the journal entries for the years 20172019 to record income taxes payable (refundable), income tax expense (benefit), and the tax effects of the loss carryback and carryforward. Assume that Whispering elects the carryback provision where possible and expects to realize the benefits of any loss carryforward in the year that immediately follows the loss year.

Prepare the portion of the income statement, starting with Operating loss before income taxes, for 2017.

Prepare the portion of the income statement, starting with Income before income taxes, for 2018.