PLEASE SHOW WORK.

Tobac Company reported an operating loss of $132.000 for financial reporting and tax purposes in 2011. The enacted tax rate is 40% for 2011 and all future years. Assume that Tobac elects a loss canyback. No valuation allowance is needed for any defened tax assets. Taxable income, tax rates. and income taxes paid in Tobac?s first four years of operations were as follows:Required: 1.) Prepare a compound journal entry to record Tobac?s tax provision for the year 2011. Show well-labeled computations. 2.) Compute Tobac?s net loss for 2011