The pretax financial income (or loss) figures for Synergetics Company are as follows.

Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 45% tax rate for 2010 and 2011 and a 40% tax rate for the remaining years.
Instructions Prepare the journal entries for the years 2012 to 2016 to record income tax expense and the effects of the net operating loss carrybacks and carryforwards, assuming Synergetics Company uses the carryback provision.
All income and losses relate to normal operations. (In recording the benefits of a loss carryforward, assume that it is probable the loss carryforward will be realized.)

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2010 2011 $160,000 250,000 2012 90,000 2013 (160,000) 2014 (350,000) 2015 120,000 2016 100,000