U S Kiese, Intermediate Accounting, 17e Help System Announcements BACK NEXT Problem 19-05 a, c-d Vaughn Inc. reported the following pretax income (loss) and related tax rates during the years 2019-2022. Pretax Income (loss) Tax Rate 2019 $86,400 40% 2020 (194,400) 40% 216,000 20% 2022 108,000 20% 2021 Pretax financial income (loss) and taxable income (loss) were the same for all years since Vaughn 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 Vaughn expects to realize the benefits of any loss carryforward in the year that immediately follows the loss veac (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.) Debit Credit Date Account Titles and Explanation 2020 2021 SHOW LIST OF ACCOUNTS LINK TO TEXT 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).) Vaughn Inc. Income Statement (Partial) SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the portion of the income statement, starting with "Income before income axes," for 2021. (Enter negative amounts using either a negative sign preceding the number e.o. -45 or parentheses e.g. (45).) Vaughn Inc. Income Statement (Partial) Click if you would like to Show Work for this question: Open Show Work U S Kiese, Intermediate Accounting, 17e Help System Announcements BACK NEXT Problem 19-05 a, c-d Vaughn Inc. reported the following pretax income (loss) and related tax rates during the years 2019-2022. Pretax Income (loss) Tax Rate 2019 $86,400 40% 2020 (194,400) 40% 216,000 20% 2022 108,000 20% 2021 Pretax financial income (loss) and taxable income (loss) were the same for all years since Vaughn 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 Vaughn expects to realize the benefits of any loss carryforward in the year that immediately follows the loss veac (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.) Debit Credit Date Account Titles and Explanation 2020 2021 SHOW LIST OF ACCOUNTS LINK TO TEXT 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).) Vaughn Inc. Income Statement (Partial) SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the portion of the income statement, starting with "Income before income axes," for 2021. (Enter negative amounts using either a negative sign preceding the number e.o. -45 or parentheses e.g. (45).) Vaughn Inc. Income Statement (Partial) Click if you would like to Show Work for this question: Open Show Work