E19.21 (LO 3) (Carryforward of NOL, No Valuation Account, No Temporary Differences) The pretax financial...
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E19.21 (LO 3) (Carryforward of NOL, No Valuation Account, No Temporary Differences) The pretax financial income (or loss) figures for Jenny Spangler Company are as follows. 2017 $80,000 2018 (160,000) 2019 (380,000) 2020 120,000 2021 100,000 Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 25% tax rate for 2015 and 2016, and a 20% tax rate for the remaining years.
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