Use the fact pattern below. What is the remaining NOL balance in 2021?

$80 $100 $200 $0

Tax rate % of current period income eligible for NOLS Year Income statement GAAP current period income / (loss) GAAP tax expense / (benefit) (current period income x tax rate) Memo: Cash taxes due (taxable current period income x tax rate) Balance sheet Deferred tax assets Beginning of period Plus: Change in deferred tax assets Equals: Deferred tax assets End of period (NOLS remaining x tax rate) Memo: NOLS used up in period (80% x current period income) Memo: Taxable current period income (current period not offset by NOLs) emot NOLsremaininz (Prioroeriod NOLS less NOLsusedunxurrent oerio& 30% 2019 (600) o 2020 300 2021 200 2022 150 o o o o $80 $100 $200 so