W. Pickett Fence Company incurred a net loss for Year 3. The fim does not have any book-tax diferences. We prosent the tesults of operatons for the first 3 years of the corpany's opecatons. (Click the icon to view the data) Future tax ratot are expectod to be 35\%. W. Pickett operates in a juritdiction that allows carrybscks for two yoars and always elects the carryback option. There are no uncirtainties regarding realzation of future tax bentits. Prepare the journal entry(s) required to record the Year 3 net operating loss. (Rocord debits frist, then credite. For transactions that do not tequire an entry, make sure to seiect No ontry recuires" in the first cel in the "Account" columin and leave all other colls blank, Exclude explanations from any foumal entries) Data table