Over the last five years, corporation A has been consistently profitable. Its earnings before taxes were...

  

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Over the last five years, corporation A has been consistently profitable. Its earnings before taxes were as follows: Year Earnings 1 2 3 4 5 $1,000 $2,800 $4,300 $5,500 $4,400 a. If the corporate tax rate was 25 percent, what were the firm's income taxes for each year? Round your answers to the nearest dollar. Year Taxes 1 $ 2 $ 3 $ 4 5 $ $ b. Unfortunately, in year 6 the firm experienced a major decline in sales, which resulted in a loss of $12,000. What impact will the loss have on the firm's taxes for each year if the permitted carry-back is two years? If the answer is zero, enter "0". Round your answers to the nearest dollar. Year 1 2 New $ $ Taxes Total tax refund: $ 3 $ 4 5 $ $ Over the last five years, corporation A has been consistently profitable. Its earnings before taxes were as follows: Year Earnings 1 2 3 4 5 $1,000 $2,800 $4,300 $5,500 $4,400 a. If the corporate tax rate was 25 percent, what were the firm's income taxes for each year? Round your answers to the nearest dollar. Year Taxes 1 $ 2 $ 3 $ 4 5 $ $ b. Unfortunately, in year 6 the firm experienced a major decline in sales, which resulted in a loss of $12,000. What impact will the loss have on the firm's taxes for each year if the permitted carry-back is two years? If the answer is zero, enter "0". Round your answers to the nearest dollar. Year 1 2 New $ $ Taxes Total tax refund: $ 3 $ 4 5 $ $