This is one continuous story about one company... Parts a, b, c and d are about the Carter Corporation. Carter Corporation began operations in 2017 and had financial income before taxes and taxable income for the year ending 12/31/2017 of $300,000. Their tax rate was 30%. They properly recorded the following entry at 12/31/2017: Account DR CR Income Tax Expense $90,000 Income Tax Payable $90,000 Early in 2018 they paid their taxes and continued operating their business. Due to a downturn in the economy, they had a net operating loss of $500,000 for the period ending 12/31/2018 Once again, they had no permanent or tomporary differences A B I 155 OP 3 (a). Propare the appropriate journal entryfies related to income taxes for the period ending 12/31/2018 assuming that the company first chooses to carry back and then carryforward the remaining amount The tax rate remains 30% (b) Assume the management of Carter Corporation thinks that it is more likely than not that 50% of the loss carryforward will not be realized because it is a new company and profits are not predicted (this is before results of 2019 operations are known). Prepare any additional journal entry for 12/31/2018. If none is needed, indicate N/A. (c) What is the total impact on Carter's Income Statement for the year ending 12/31/2018 related to income taxes? (indicate amount and decrease/increase) I Next Year for Carter Corporation In 2019, Carter Corporation recovers and has an operating income of $450,000. Taxable income and financial income before taxes remain the same and the tax rate remains at 30%