During Year 4, Lamb Inc. suffered a tax loss of $(360,000). Lamb qualifies for a two-year loss carryback option for tax purposes, using the earliest year first and with no income restrictions. Taxable income for the last three years (listed in chronological order) follows: Year 1: $324,000; Year 2: $288,000; and Year 3: $108,000. The tax rate is 40% for Year 3 and Year 4, and 25% for Year 1 and Year 2. Prepare Lamb's entry for the loss carryback on December 31 of Year 4. Dr. 196,200 Date Account Name Dec. 31, Year 4 Income Tax Refund Receivable Income Tax Expense To record net operating loss carryback 0 Cr. 0x 196,200 x