in eee contisuous stery about one company... Parts a, h, e and d are ahout the Carter Corporation. Caner Corporation began operations in 2016 and had financial income before taxes and taxable income for the ending 125 1/2016 of$300,000. Their tax rate was 30% They properly recorded the following entry al 1231/2016 Income Tax Expense Early in 2017 they paid their taxes and continued operating their business. Dac to a downturn in the economy CR DR $90,000 $90,000 Incorse Tax Payable they had a net eperating loss of $800,000 for the period ending 12/31/2017. Once again, they had no (a). Prepare the appeopriate jounal entry(ies) related to income taxes for the period ending 12/31/2017. The tax raterem ains 30%. (b) Assume the management of Carter Corporation thinks cany fow and sil t be realiced because it is s new company nd profts are not preicted (this is before Prepare any additional journal entry for 12/31/2017. If none is needed, indicate NA that it is more likely than not that 50% of the loss (e) What impact does parts (a) and (b) have on the income statement? (indicate amount and decrease/increase Next Year for Carter Corperation In 2018, Carter Corporation recovers and has an operating income of $360,000. Taxable income and financial income before taxes remain the same and the likely than not that all of the deferred tax asset will be realized in the future. tax rate remains at 30%. Assume that at the end of 2018 it is more (d) Prepare all necessary tax entries for 2018