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Assume that Peridot operates in an industry for which NOL carryback is allowed. In its first four years of operations Peridot reported the following operating
Assume that Peridot operates in an industry for which NOL carryback is allowed. In its first four years of operations Peridot reported the following operating income foss) amounts 20 2018 2019 2020 2021 $ 185,000 138,000 (444, eae) 488,000 There were no other items affecting deferred Income taxes in any year. In 2020, Peridot elected to carry back its operating loss. The enacted income taxime was 25%. In its 2021 income statement, what amount should Peridot report as income tax expense? Multiple Choice $119.500 $66.282 Multiple Choice $119,500 o $66282 o $122.000 $179.500
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