Greene Co.reported a loss in 2015 of $595,000.The company reported taxable income of $183,000 in 2013 and $200,000 in 2014.It has no permanent or temporary differences and its tax rate is 40%.Greene reported taxable income of $287,000 in 2016.Prepare the necessary journal entries for 2015 and 2016.

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The Answer of Greene Co.reported a loss in 2015 of $595,000.The company reported taxable income of $183,000 in 2013 and $200,000 in 2014.It has no permanent or temporary differences and its tax rate is 40%.Greene reported taxable income of $287,000 in 2016.Prepare the necessary journal entries for 2015 and 2016.

Greene CoReported a Loss in 2015 of $595,000