Recording NOL Carryforward Tyson Corporation reported pretax income from operations in Year 1 of $80,000 (the first year of operations). In Year 2, the corporation experienced a $40,000NOL (pretax loss from operations). Management is confident the company will have taxable income in excess of $50,000 in Year 3. Assume an income tax rate of 25% in Year 1 and thereafter. Tyson has no other temporary differences. Required a. Provide the Year 1 and Year 2 income tax entries that Tyson should make. reported on the Year 1 and Year 2 income b. Show how all tax-related items would be reported on the Year 1 and Year 2 income statements and balance sheets. - Note: Do not use negative signs with your answers. - Note: Use a negative sign to indicate a loss