Wynn sheet metal reported a net operating loss of $132,000 for financial reporting and tax purposes in 2018. the enacted tax rate is 35%. taxable income, tax rates, and income taxes paid in wynn’s first four years of operation were as follows: taxable income tax rates income taxes paid 2014 $ 76,000 25 % $ 19,000 2015 86,000 25 21,500 2016 96,000 35 33,600 2017 76,000 40 30,400 required: 1. prepare the journal entry to recognize the income tax benefit of the net operating loss. wynn elects the carryback option. 2. show the lower portion of the 2018 income statement that reports the income tax benefit of the net operating loss.

Employees at a library check out books to patrons. books have an isbn and a name. the library sometimes has multiple copies of the same book. books have one or more authors. a patron is an individual who has an active (non-expired) library card. for each library card, we store the person's first and last names and their address. for each employee, we store their employee id, current salary, first and last name and their address. we also store the employee id of their current manager. each time we check out a book to a patron we need to store the date of the transaction, the employee who checked out the book to the patron, and the library card of the patron. some employees have library cards. if an employee patron turns in a book late, the fine that they pay is a percentage of their salary. some employees are authors who have library cards—they are allowed to check out as many books as they like.

Three pounds of material a are required for each unit produced. the company has a policy of maintaining a stock of material a on hand at the end of each quarter equal to 30% of the next quarter's production needs for material a. a total of 35,000 pounds of material a are on hand to start the year. budgeted purchases of material a for the second quarter would be:

It is estimated that over 100,000 students will apply to the top 30 m.b.a. programs in the united states this year. a. using the concept of net present value and opportunity cost, when is it rational for an individual to pursue an m.b.a. degree. b. what would you expect to happen to the number of applicants if the starting salaries of managers with m.b.a. degrees remained constant but salaries of managers without such degrees decreased by 20 percent