Exercise 19-21 Your answer is partially correct. Try again. The pretax financial income (or loss) figures for Concord Company are as follows. $155,000 2012 2013 226,000 2014 74,000 2015 2016 2017 2018 (155,000) (364,000) 113,000 99,000 Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 45% tai Prepare the journal entries for the years 2014 to 2018 to record income tax expense and the effects of the net oper carryback provision. All income and losses relate to normal operations. (In recording the benefits of a loss carryforv titles are automatically indented when amount is entered. Do not indent manually. If no entry is require Account Titles and Explanation Debit Credit 2014 Income Tax Expense 29600 29600 Income Tax Payable (To record income tax expense.) 2015 Account Titles and Explanation Debit Credit 2014 1 29600 Income Tax Expense Income Tax Payable 29600 (To record income tax expense.) 2015 Income Tax Refund Receivable 62000 fraud 62000 2016 Income Tax Refund Receivable 29600 Income Tax Refund 29600 (To record carryback.) Deferred Tax Asset 83600 Income Tax Expense 83600 (To record carryforward.) Income Tax Refund 29600 (To record carryback.) Deferred Tax Asset sset 83600 Income Tax Expense 83600 (To record carryforward.) 2017 Income Tax Expense JT 45200 ] Deferred Tax Asset 45200 2018 Income Tax Expense 39600 _ 396007 Deferred Tax Asset 39600