please show your work

UT/18W/connect.html HW Saved Wynn Sheet Metal reported an operating loss of $174,000 for financial reporting and tax purposes in 2018. The enacted tax rate is 40%. Taxable income, tax rates, and income taxes paid in Wynn's first four years of operation were as follows: Taxable Tax Income Rates 2014 $67,000 30% 2015 77,000 30 2016 87,000 40 2017 67,000 45 ncome Taxes Paid $20,100 23,100 34, 800 30, 150 Required 1. Complete the following table given below and prepare the journal entry to recognize the income tax benefit of the operating loss. Wynn elects the carryback option. 2. Show the lower portion of the 2018 income statement that reports the income tax benefit of the operating loss. Complete this question by entering your answers in the tabs below Required 1 Required 1 GJ Required 2 Calculation Complete the following table given below to record income taxes. (Enter your answers in thousands. Round your answers to two decimal places. Leave no cell blank, enter "0" wherever applicable.) Rate % Tax $ Recorded as: Operating loss carryback Carried back 2014 Carried back -2015 Carried back 2016 Carried back 2017 0 40% 45%)