-1 Question 8 View Policies Current Attempt in Progress The pretax financial income (or loss) figures for Headland Company are as follows. 2015 2016 2017 2018 2019 2020 2021 $173,000 227,000 76,000 (173,000) (401,000) 111,000 105,000 Pretax financial income for loss) and taxable income (loss) were the same for all years involved. Assume a 25% tax rate for 2015 and 2016 and a 20% tax rate for the remaining years. Prepare the journal entries for the years 2017 to 2021 to record income tax expense and the effects of the net operating loss carryforwards. All income and losses relate to normal operations. (In recording the benefits of a loss carryforward, assume that no valuation account is deemed necessary) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) required, select No Entry for the account tities and enter for the amounts.) Account Titles and Explanation Debit Credit 2017 2018 2019 2020 arch A d o 12:35P Presents Home End Poup PgDa C 8