Operating income and tax rates for WW Company's first three years of operations were as...
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Operating income and tax rates for WW Company's first three years of operations were as follows: 2022. Income. $400,000 enacted tax rate 35% 2023. Income ($1,000,000). enacted tax rate 30% WW Company reported a Net Operating Los (NOL) for 2023. Assume net operating loss carryforward. What is the amount of deferred tax asset that WW Company would report on its December 31, 2023 Balance Sheet? Show the lower portion of the 2023 income statement that reports the income tax benefit of the net operating loss.
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