Wynn Sheet Metal reported an operating loss of $164,000 for financial reporting and tax purposes in 2018. The enacted tax rate is 40%. Taxable income, tax rates, and income taxes paid in Wynn's first four years of operation were as follows: Taxable Income $62,000 72,000 82,000 62,000 Tax Rates 30% 30 Income Taxes Paid $18,600 21,600 32,800 27,900 2014 2015 2016 2017 40 45 Required: 1. Complete the following table given below and prepare the joural entry to recognize the income tax benefit of the operating loss Wynn elects the carryback option. 2. Show the lower portion of the 2018 income statement that reports the income tax benefit of the operating loss Complete this question by entering your answers in the tabs below. Required 1 Calculation Required 1 GJ Required 2 Complete the following table given below to record income taxes. (Enter your answers in thousands. Round your answers to two decimal places. Leave no cell blank, enter "O" wherever applicable.) Operating loss carryback Rate % Recorded as: Tax 5 Carried back- 2014 x Caried back- 2015 Carried back 2016 Carried back-2017 Total carryback Operating loss carryforward Caried forward > Required 1 0J Journal entry worksheet