Your firm suffered net operating losses in each of 2021 ($120,000 loss) and 2022 ($85,000 loss). At the end of each year, management assessed as more likely than not that the firm would not be profitable enough to realize any of the deferred tax assets, and your firm appropriately recorded a valuation allowance. 2023 turned out to be a banner year, earning the firm $280,000 in taxable income. The statutory tax rate in each year was 25%. Your firm has no permanent or temporary differences in any of the three years. Make your firm's income tax entries for each year (2021, 2022, and 2023).