In $2022$ Arpen reported a net operating loss of $$120,000$ for both financial reporting and tax purposes. Arpen does not meet the criteria to be allowed to carry net operating losses back for a refund of prior taxes paid but can carry net operating losses forward. Assume tax rates for all years are $30\%$

Prepare Arpen's $2022$ income tax expense journal entry.

NOTE: The credit to Income Tax Expense is a NEGATIVE expense. You could also call this Income Tax Benefit and be correct.

Assume Arpen reported $$80,000$ net income for $2023.$ Also assume that in $2023,$ enacted tax rates changed to $25\%,$ beginning in $2024.$ Prepare Arpen's $2023$ income tax expense journal entry.

Please show work, thank you!