Saturn Ltd. began operations in 20X3. For the first six years of operations, the company had the following pre-tax net earnings (loss):

There have been no temporary differences between pre-tax accounting income and taxable income.

In all years, the probability of loss carryforward use was low.

Required:
For each year, prepare a journal entry or entries to record income tax expense (recovery).

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Year 20X3 20X4 20X5 20X6 20X7 20X8 Taxable Income $ (120,000) 720,000 880,000 (2,600,000) 280,000 1,000,000 Tax Rate 25% 30% 30% 30% 35% 35%