Assume Company starts operations on $1/1/2013$ with an equity investment of $$744,250.$ The companies next $7$ years of financial performance are listed below. Assume that the company has no permanent or temporary differences for the first three fiscal years. During Fiscal Year $2016$ the company experiences a net operating loss. The marginal corporate tax rates for each year are located on the income statement.

$1.$ Calculate taxable income $($IRS$),$ taxes payable $($IRS$)$ and tax expense $($USGAAP$)$

$2.$ How should the company account for the Net Operating Loss?

$3.$ Provide ALL journal entries AND t$-$accounts.

$4.$ Create a complete set of financial statements $($I$/$S$,$ SRE, B$/$S$,$ SCF$)$ for the firm for years $2013$ through $2019.$