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Blue Inc. reported the following pretax income (loss) and related tax rates during the years 2019-2022. 2019 2020 2021 2022 Pretax Income (loss) $97,600 (219,600) 244,000 122,000 Tax Rate 40% 40% 20% 20% Pretax financial income (loss) and taxable income (loss) were the same for all years since Blue began business. The tax rates from 2019-2022 were enacted in 2019. Prepare the journal entries for the years 2020-2022 to record income taxes payable (refundable), income tax expense (benefit), and the tax effects of the loss carryforward. Assume that Blue expects to realize the benefits of any loss carryforward in the year that immediately follows the loss year. (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 o for the amounts.) Date Account Titles and Explanation Debit Credit 2020 Deferred Tax Asset 48,800 48,800 Benefit Due to Loss Car 2021 Income Income Tax Expense 48,800 Deferred Tax Asset 48,800 Income Tax Payable Income Tax Expense 24,400 Income Tax Payable 24,400 Prepare the portion of the income statement, starting with "Operating loss before income taxes," for 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Blue Inc. Income Statement (Partial For the Year Ended December 31, 2020 Operating Loss before Income Taxes $ (219,600) Income Tax Benefit Benefit Due to Loss Carryforward 48,800 Net Income / (Loss) (170,800) SHOW LIST OF ACCOUNTS Prepare the portion of the income statement, starting with "Income before income taxes," for 2021. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Blue Inc. Income Statement (Partial) For the Year Ended December 31, 2021 Income before Income Taxes 244,000 Income Tax Expense Current Deferred 48,800 48 800