For the following scenarios off-set the losses for the appropriate years using the rules as applied in Trinidad and Tobago.

1. In the year of assessment 2012, Company McKenzie Incor. Ltd has prior year losses of $6,200,000 to its disposal. In 2013 the company made net income of $4,700,000 and $3,800,000 in 2014.

2. XYZ Company Limited in year of assessment 2015 makes net income of $8,000,000 and its prior year loss was $9,000,000.