Loss Carryforward The Bookbinder Company had $570,000 cumulative operating losses prior to the beginning of last year. It had $120,000 in pre-tax earnings last year before using the past operating losses and has $360,000 in the current year before using any past operating losses. It projects $420,000 pre-tax earnings next year. Enter your answers as positive values. If an amount is zero, enter to". Round your answers to the nearest dollar # How much taxable income was there last year? 5 How much, if any, cumulative fosses remained at the end of the last year? 5 5. What is the taxable income in the current year? $ How much, if any, cumulative losses remain at the end of the current year? 5 c. What is the projected taxable income for next year? How much, if any, cumulative losses are projected to remain at the end of next year? 5