Testbank Exercise 113 In 2021, its first year of operations, Sunland Corp. has a 5880.000 net operating loss when the tax rates 35% in 2012, Surland has 1430,000 taxable income and the rate o 35% Atcure the management of Stand Corp. thinks that is more likely than not that the loss carryforward will not be realized in the near future because it is now company (this is before results of 2022 operations are known). What are the entries w2021 to record the tax effects of the lo carryforward? (Credit account beware automatically indented when amount is entered. Do not indent manually. In entry is required select "No Entry for the account title and enter for the amount Account Titles and Explanation Debit Credit (Te recognit of carryforward) (To recordance amount) What entries would be made in 2022 to record the current and deferred come to recognize the loss cyfrwd (Acum that at the end of 2032 is more likely than not that the deferred to meet wit bereid (Credit account ites are automatically indented when amount tored. Do not indent manually. If mentry is required, elect"No Entry for the account tities and enter for the amounts) Account Titles and Explanati Debit Creda