Roberts Corporation began operations in 2013 and finally began to report pretax profits in 2014. However, a major economic downturn in 2015 has negatively impacted the company's operations.
Required
For each of the following quarters of 2015, determine the tax expense or benefit traceable to that quarter. Assume that the statutory tax rates for years 2013 through 2015 are 25%, 30%, and 35%, respectively.

Assume that all current-year (2015) taxable losses and tax credits may be carried back against the prior two years to whatever extent possible. No tax credits were available in years 2013 and 2014.

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Quarter 1 Quarter 2 Quarter 3 Pretax income (oss) for the quarter Projected income (loss) for the balance of the year Projected nondeductible expenses for the year Projected nontaxable income for the year Projected tax credits for the year Taxable income in 2014 Taxable income in 2013 Post-2015 income more likely than not 50,000) $120,000 97,000 33,000 20,000 7,000 8,000 195,000 75,000 (75,000](75,000) 250,000 75,000 (50,000) 15,000 5,000 6,000 195,000 22,000 6,000 195,000