Over a period of years the earnings of Contemporary Fashions have fluctuated as follows. The firms tax rate is 25 percent. What are the taxes paid, taxes refunded, and loss carry-forward for each year? (10 points)

Year 1 2 3 4 5

Earnings $1000 (2000) 1500 3000 (2000)

Taxes ______ ______ ______ ______ ______

Refunds ______ ______ ______ ______ ______

Loss ______ ______ ______ ______ ______

Carried

Forward