Compute the tak liabilities for each year along with tracking any NOL. The company's objective is to use the carryback and then the carryforward to ensure its tax liability is as small as possible These figures are for a company with yearly revenues of over $15 million 2001 2002 Net Income! (Loss) 20,000 12,000 (13,000) 4,000 8,000 9,000 (3,000) 2001 2002 2003 2004 2005 2006 2007 2003 2004 2005 2006 2007 2008 2009 Net Income! (Loss) (25,000) (1,000) 4,000 6,000 (5,000) 7,000 6,000 (2,000) 9,000 (check figure: tax liability = 5,550) (check figure: tax liability = 0)