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The pretax finandal Income (or loss) figures for Shamrock Company are as follows. 2012 $148,000 2013 2014 2015 2016 231,000 79,000 (148,000) (380,000) 121,000 98,000

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The pretax finandal Income (or loss) figures for Shamrock Company are as follows. 2012 $148,000 2013 2014 2015 2016 231,000 79,000 (148,000) (380,000) 121,000 98,000 2017 2018 Pre tax financial income (or loss) and taxable income loss) were the same for all years involved. Assume a 45% tax rate for 2012 and 2013 and a 40% tax rate for the rema nlng ye Prepare the journal entries for the years 2014 to 2018 to record income tax expense and the effects of the net operating loss carrybacks and carryforwards assuming Shamrock Comp losses relate to normal operations. (In recording the benefits of a loss carryforward, assume that no valuation account is deemed necessary.) (Credit account titles are automatica indent manually. If no entry is required, select "No Entry" for the account citles and enter O for the amounts.) Account Titles and Explanation Debit Credit 2014 (To record income tax expense.) 2015 2015 2016 (To record carryback.) (To record carryforward.) 2017 2018 Privacv Policv l 2000-2019 ]ohn Wilev & Sons, Inc. All Riahts Reserved. A Division of John Wilev & Sons. In

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