Brief Exercise 16-13 Net operating loss carryback (L016-7] AirParts Corporation reported a net operating loss of $22 million for financial reporting and tax purposes. Taxable income last year and the previous year, respectively, was $23 million and $18 million. The enacted tax rate each year is 40%. Prepare the journal entry to recognize the income tax benefit of the net operating loss. AirParts elects the carryback option. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the entry to recognize the income tax benefit. Note: Enter debits before credits. Event General Journal Debit Credit