Recording Net Operating Loss Carryback During Year 4, Lamb Inc. suffered a tax loss of $(360,000). Lamb qualifies for a two-year loss carryback option for tax purposes, using the earliest year first and with no income restrictions. Taxable income for the last three years (listed in chronological order) follows: Year 1: $324,000; Year 2: $288,000; and Year 3: $108,000. The tax rate is 40\% for Year 3 and Year 4, and 25\% for Year 1 and Year 2 Prepare Lamb's entry for the loss carryback on December 31 of Year 4