LMNO Corporation was formed in 2010. Itreported net income (loss) over the 2009through 2016 tax years, before accounting for any net operating losses, as follows:

2010.................................$ (4,000)

2011.................................$ 19,000

2012.................................$ 23,000

2013.................................$(31,000)

2014.................................$ 11,000

2015.................................$ ( 8,000)

2016.................................$  3,000

a. Determine annual taxable income after accounting for any net operating losses for 2010 to 2016, assuming the corporation does not waive the carryback period. Also determine any NOL carryforward to 2017.

b. Determine annual taxable income after accounting for any net operating losses for 2010 to 2016, assuming the corporation waives the carryback period. Also determine any NOL carryforward to 2017.