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Wynn Farms reported a net operating loss of $195 , 000 for financial reporting and tax purposes in 2024. The enacted tax rate is 25% Taxable income, tax rates, and income taxes paid in Wynn's first four years of operation were as follows: Show the lower portion of the 2024 income statement that reports the income tax benefit of the net operating loss. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in whole dollars..

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Wynn Farms reported a net operating loss of $195 , 000 for financial reporting and tax purposes in 2024. The enacted tax rate is 25% Taxable income, tax rates, and income taxes paid in Wynn's first four years of operation were as follows: Show the lower portion of the 2024 income statement that reports the income tax benefit of the net operating loss. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in whole dollars.

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  • 1. Wynn Farms reported a net operating loss of $195 , 000 for financial reporting and tax purposes in 2024. The enacted tax rate is 25% Taxable income, tax rates, and income taxes paid in Wynn's first four years of operation were as follows: Show the lower portion of the 2024 income statement that reports the income tax benefit of the net operating loss. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in whole dollars.