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Wing years: 2020, 2021, and 2022. Tyson Corporation reported pretax income from operations in 2020 of $80,000 (the first year of operations). In 2021,
Wing years: 2020, 2021, and 2022. Tyson Corporation reported pretax income from operations in 2020 of $80,000 (the first year of operations). In 2021, the corporation experienced a $40,000 NOL (pretax loss from operations). Management is confident the company will have taxable income in excess of $50,000 in 2022. Assume an income tax rate of 25% in 2020 and thereafter. Tyson has no other temporary differences. Required a. Provide the 2020 and 2021 income tax entries that Tyson should make. Show how all tax-related items would be reported on the 2020 and 2021 income statements and balance sheets. Jar Comoration experienced a loco in 2000 Exercise 18-7 Recording NOL Carryforward L
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