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Meyer reported the following pretax financial income (loss) for the years 2020-2022. 2020 $120,000 2021 (150,000) 2022 190,000 Pretax financial income (loss) and taxable income (loss) were the same for all years involved. The enacted tax rate was 2096 for 2022 Your answer is partially correct. Prepare the journal entries for the years 2020-2022 to record income tax expense, income taxes payable, and the tax effects the loss carryforward, assuming that based on the weight of available evidence, it is more likely than not that one-fifth of the benefits of the loss carryforward will not be realized. (Credit account titles are automatically indented when amount is entered Don indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit 2020 Income Tax Expenses 24000 Income Tax Payable 24000 2021 (To record refund) 6000 (To record allowance) 2022 Income Tax Expense 38000 Deferred Tax Asset Income Tax Payable (To record income taxes) Allowance to Reduce Deferred Tax Asset to Expected Realiz (To adjust allowance) Prepare the income tax section of the 2021 income statement beginning with the line "Income (loss) before income taxes". (Enter negative amounts using either a negative sign preceding the number 0.8-45 or parentheses eg (45)) Meyer Income Statement (Partial) For the Year Ended December 31, 2021 Income (Loss) before Income Taxes 150000 Income Tax Benefit Deferred Net Income Los -124800

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