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.

Wynn Sheet Metal reported an operating loss of $186,000 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: 73,000 21,900 2012 2013 83,000 24,000 2014 93,000 37,200 2015 73,000 32,850 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. (lf no en is required for a transaction/event, try select "No journal entry required" in the first account field. Enter your answers in thousands. Leave no cell blank, enter "0" wherever applicable.) Rate Tax S operating loss carryback Recorded as Carried back 2012 S 0 x 30% 0 Carried back 2013 0 x 30% 0 Carried back 2015 X 45% 0 S 0 Receivable-ncome tax refund Total carryback operating loss carryforward Carried forward x 40% S 0 Deferred tax asset-ending view transaction list view general journal General Journal Debit Credit 1 Receivable-income tax refund Deferred tax asset Income tax benefit-Net operating loss