In 2020, Cardinals Company operated at a tax loss, totaling \(\$ 88,000\) during its first year of business. Assuming a tax rate of \(25 \%\), and that income is expected in 2021 , record the entry to reflect the tax benefit of the net operating loss on December 31, 2020. Cardinals Company determined that it was more likely than not that \(75 \%\) of the deferred tax asset would not be realized.