*Note: A Net Operating Loss (NOL) is included in this problem. This statement is intended for students who were recently enrolled in tax accounting and may have learned a different rule under recently issued tax law. Remember that in this course, NOLs can be carried back at the election of the company (within the rules set forth) and carry-forwards are not limited to a certain percentage. Johnson Corporation has the following tax information: Year 2017 Taxable Income Tax Rate $1,000,000 35% $900,000 30% $800,000 28% 2018 2019 A. In 2020, Johnson incurred a net operating loss (NOL) of $350,000, which the company elected to carry back within the rules provided in our textbook. In your supporting documentation, record the journal entry to record the carry back. Based on your journal entry, what amount of income tax benefit should Johnson record in 2020? $ B. Assume instead that in 2020 Johnson incurred an NOL of $2,000,000 and that the company elected to carry back the loss within the rules provided in our textbook. Once Johnson completes the carry back and carry forward process, what amount of deferred tax asset (liability) should Johnson record in 2020? While the journal entry is not officially required for this step, please clearly show your work to substantiate your answer. Type either "DTA" or "TL": In the amount of: $