Scroll down to complete all parts of this task. Acme Corporation, a calendar-year C corporation, started business on January 1, 2014. Acme had taxable income for the first three years but incurred substantial losses for the next two years and is slowly recovering. A schedule of Acme's taxable income (losses) for 2014 through 2020 is provided. Using the information provided, prepare the net operating loss (NOL) carryback/carryforward schedule in the table below. For column B, enter the 2017 NOL amount. For column C, enter the 2018 NOL amount. Enter all amounts as positive whole values. If the amount is zero, enter a zero. 7 NUL Larrypack/carrytorwara scneauie 2017 NUL 2010 NUL ($50,000) 2 Net operating loss (NOL) generated 3 Less: NOL carryback to 2014 4 Less: NOL carryback to 2015 123 ($100,000) Click to answer 123 123 123 123 123 5 Less: NOL carryback to 2016 6 Equals: NOL carryforward to 2019 ($100,000) ($50,000) 7 Less: NOL utilized in 2019 123 123 ($100,000) ($50,000) 8 Equals: NOL carryforward to 2020 9 Less: NOL utilized in 2020 123 123 10 Equals: NOL carryforward to 2021 ($100,000) ($50,000) Tax Year Taxable Income (Loss) 2014 $20,000 2015 $25,000 2016 $60,000 2017 ($100,000) 2018 ($50,000) $10,000 2019 2020 $30,000 Scroll down to complete all parts of this task. Acme Corporation, a calendar-year C corporation, started business on January 1, 2014. Acme had taxable income for the first three years but incurred substantial losses for the next two years and is slowly recovering. A schedule of Acme's taxable income (losses) for 2014 through 2020 is provided. Using the information provided, prepare the net operating loss (NOL) carryback/carryforward schedule in the table below. For column B, enter the 2017 NOL amount. For column C, enter the 2018 NOL amount. Enter all amounts as positive whole values. If the amount is zero, enter a zero. 7 NUL Larrypack/carrytorwara scneauie 2017 NUL 2010 NUL ($50,000) 2 Net operating loss (NOL) generated 3 Less: NOL carryback to 2014 4 Less: NOL carryback to 2015 123 ($100,000) Click to answer 123 123 123 123 123 5 Less: NOL carryback to 2016 6 Equals: NOL carryforward to 2019 ($100,000) ($50,000) 7 Less: NOL utilized in 2019 123 123 ($100,000) ($50,000) 8 Equals: NOL carryforward to 2020 9 Less: NOL utilized in 2020 123 123 10 Equals: NOL carryforward to 2021 ($100,000) ($50,000) Tax Year Taxable Income (Loss) 2014 $20,000 2015 $25,000 2016 $60,000 2017 ($100,000) 2018 ($50,000) $10,000 2019 2020 $30,000