Wynn Farms reported a net operating loss of $285,000 for financial reporting and tax purposes in 2021. The enacted tax rate is 25% Taxable income, tax rates, and income taxes paid in Wynn's first four years of operation were as follows: 2017 2018 Taxable Income $ 85,000 30% Rates Income Taxes Paid $25,500 95,000 30 28,500 2019 205,000 40 82,000 2020 40,000 45 18,000 Required: 1. NOL carrybacks are not allowed for most companies, except for property and casualty insurance companies as well as some farm- related businesses. Assume Wynn is one of those businesses. Complete the table given below and prepare the journal entry to recognize the income tax benefit of the net operating loss. 2. Show the lower portion of the 2021 Income statement that reports the income tax benefit of the net operating loss