Tobac Company reported an operating loss of $142,000 for financial reporting and tax purpose for 2021 and all future years. Assume that Tobac operates in an industry for which NOL carryba carryback. No valuation allowance is needed for any deferred tax assets. Taxable income, tax r first four years of operations were as follows: Taxable income 2017 $40,000 Tax Taxes: rates paid 30% $12,000 2018 $45,000 30% $13,500 2019 2020 $52,000 $50,000 358 $18,200 408 $20,000 Required: 1. Prepare a compound journal entry to record Tobac's tax provision for the year 2021. 2. Compute Tobac's net loss for 2021