Exercise $16-26($Algo$)$ Net operating loss carryback and carryforward; financial statement effects $[$LO$167]$

Wynn Farms reported a net operating loss of $$235,000$ for financial reporting and tax purposes in $2024.$ The enacted tax rate is $25\%.$ Taxable income, tax rates, and income taxes paid in Wynn$\text{'}$s first four years of operation were as follows:

$\backslash$table$[[,$Taxable,,Income$],[,$Income,Tax Rates,Taxes Paid$],[2020,$$$75,000,30\%,$$$22,500$