Wynn Sheet Metal reported an operating loss of $174,000 for financial reporting and tax purposes in 2016. 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: Tax Taxable Income Taxes Income Rates Paid 2012 67,000 20,100 30% 2013 77,000 23,100 30 2014 87,000 34,800 40 67,000 30,150 2015 45 Required: 1. Complete the following table given below and prepare the journal entry to recognize the income tax benefit of the operating loss. Wynn elects the carryback option. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands. Leave no cell blank, enter "0" wherever applicable.) Tax Operating loss carryback Rate Recorded as: Carried back 2012 0 Carried back 2013 Carried back 2014 0 Carried back 2015 Total carryback operating loss carryforward X 0 Carried forward