Determine taxable income in each of the following independent cases. In all coses, the company was formed in 2012, was very profitable in all years prior to 2017 , and had retained earnings of $1,000,000 at the end of 2017. Required: a. In 2018, Company A has taxable income of $60,000 prior to consideration of any net operating loss. In 2017, the company incurred a net operating loss of $10,000. It did not elect to waive the carryback period. Determine 2018 taxable income. b. In 2018, Company B has taxable income of $50,000 prior to consideration of any net operating loss. In 2017 , the company incurred a net operating loss of $20,000. It elected to waive the carryback period. Determine 2018 taxable income. c. In 2021, Company C has taxable income of $35,000 prior to consideration of any net operating loss. In 2020 , the company incurred a net operating loss of $30,000 and elected to forgo the carryback period. Determine 2021 taxable income. d. In 2021, Company D has taxable income of $35,000 prior to consideration of any net operating loss. In 2017 , the company incurred a net operating loss of $5,000. It elected to walve the carryback period. In 2018 , the company incurred a net operating loss of $40,000. In 2019 and 2020, the company had net income of zero. Determine 2021 taxable income