B E1933 [Carryback and Carrjforward of NHL No Valuation r'mzlrlalrunt,r No Temporary Differences] The pretax. financial inoome {or loss] gures for Metals, Inc. are as follmmrs. 2011 5 90.000 2012 55.0mm 2013 443.000 2014 {23.0.0ou 201 5 mum 2m 5 [50.000] 201 ? snout] Pretax nancial income {or loss} and taxable income {loss} were the same for all years involved. Assume a 40% tax rate for 21111 and 2012 and a 35% tax rate for the remaining years. Instructions Prepare the journal entries for the years 21114 to 201? to record income tax expense and the effects of the net operating loss carryhacks and canyforwards assuming Metals. Inc. uses the carryback provision. All inmnre and losses relate to normal operations. [in nemrding the benefits of a loss carTyforwar'cl, assume that no valuation account is deemed necessary.)