The Bookbinder Company has made $300,000 before taxes during each of the last 15 years, and it expects to make $300,000 a year before taxes in the future. However, in 2018 the firm incurred a loss of $650,000. The firm will claim a tax credit at the time it files its 2018 income tax return, and it will receive a check from the U.S. Treasury. Show how it calculates this credit, and then indicate the firm's tax liability for each of the next 5 years. Assume a 35% tax rate on all income to ease the calculations. Enter your answers as positive values. If an amount is zero, enter "O". Round your answers to the nearest dollar Prior Years Profit earned Carry-back credit Adjusted profit Tax previously paid (35%) Tax refund: Taxes previously paid Total check from U.S. Treasury: $ Firm's tax lability 2019: $ 2020: $ 2021: $ 2022 2023