both parts please!

TB Problem 16-140 (Algo) 3 Tobac Company reported an operating loss of $126,000 for financial reporting and tax purposes in 2021. The enacted tax rate is 25% for 2021 and all future years. Assume that Tobac operates in an industry for which NOL carryback is allowed and elects a loss carryback. No valuation allowance is needed for any deferred tax assets. Taxable income tax rates, and income taxes paid in Tobac's first four years of operations were as follows: 20 points Taxable income $24,000 $29,000 536.000 $34.000 2017 2010 2019 2020 TAK rates paid 300 $ 7,200 301 38.700 350 $12.600 $13,600 look References Required: 1. Prepare a compound journal entry to record Tobac's tax provision for the year 2021 2. Compute Tobac's net loss for 2021 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a compound journal entry to record Tobac's tax provision for the year 2021. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction lit Journal entry worksheet 1 > Record the income taxes. Note: Enter debit before credits General Journal Debit Credit Transaction 1 TB Problem 16-140 (Algo) 3 Tobac Company reported an operating loss of $126,000 for financial reporting and tax purposes in 2021. The enacted tax rate is 25% for 2021 and all future years. Assume that Tobac operates in an industry for which NOL carryback is allowed and elects a loss carryback. No valuation allowance is needed for any deferred tax assets. Taxable income tax rates, and income taxes paid in Tobac's first four years of operations were as follows: 20 points Taxable income $24,000 $29,000 $36.000 534,000 2017 2018 2019 2020 Tax Taxes, rates paid 300 $ 7,200 301 $8,700 356 $12,600 401 $13,600 eBook References Required: 1. Prepare a compound journal entry to record Tobac's tax provision for the year 2021. 2. Compute Tobac's net loss for 2021 Complete this question by entering your answers in the tabs below. Required 1 Require? Compute Tobac's net loss for 2021. Net oss