Question 1 (Marks: 20) In 2016, XYZ company has a total revenue of $700,000, COGS of $600,000, Selling and administrative expense as 300,000 and interest expense as $200,000. Their financial performance in the last three years are as follows: 2013: EBT = 300,000, Tax rate 40% 2014: EBT = 100,000, Tax rate 50% 2015: EBT = 150,000, Tax rate 30% If the tax rate in 2016 is 40%, calculate the net profit/loss for 2016 considering both loss carryforward and loss carryback. (Please do it with MS.word file formate)