Help Tobac Company reported an operating loss of $122,000 for financial reporting and tax purposes in 2021. The enacted taste is 25% for 2021 and all future years. Assume that Tobac operates in an industry for which NOL carryback is allowed and elects a loss carryback. No valuation allowance is needed for any deferred tax assets. Taxable income, tax rates, and income taxes paid in Tobac's first four years of operations were as follows: 2017 2018 2019 2020 Taxable income $20,000 $25,000 $32,000 $30,000 Tax rates 301 302 351 408 Taxes paid $ 6,000 $ 7,500 $11,200 $12,000 Required: 1. Prepare a compound journal entry to record Tobac's tax provision for the year 2021. 2. Compute Tobac's net loss for 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a compound journal entry to record Tobac's tax provision for the year 2021. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet No Transaction Debit Debit Credit 1 1 General Journal Receivable - income tax refund Deferred tax asset Deferred tax asset 2 OWLA *