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Insure Corporation reported a net operating loss of $17 million for nancial reporting and tax purposes. Taxable income last year and the previous year, respectively, was $18 million and $13 million. The enacted tax rate each year is 25%. Assume that Insure qualies as a type of company that is allowed to carry back an NOL to two prior taxable years, using the earliest year rst. Prepare thejournal entry to recognize the income tax benet of the net operating loss. {If no entry is required for a transactiom'event, select "No journal entry required" in the first account eld. Enter your answers in whole dollars.) View transaction list Journal entry worksheet