In its first four years of operations Peridot Jewelers reported the following operating income (loss)amounts:
There were no other deferred income taxes in any year.In 2015,Peridot elected to carry back its operating loss.The enacted income tax rate was 40%.In its 2016 income statement,what amount should Peridot report as income tax expense?

Question

In its first four years of operations Peridot Jewelers reported the following operating income (loss)amounts: 
There were no other deferred income taxes in any year.In 2015,Peridot elected to carry back its operating loss.The enacted income tax rate was 40%.In its 2016 income statement,what amount should Peridot report as income tax expense?

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The Answer of In its first four years of operations Peridot Jewelers reported the following operating income (loss)amounts: 
There were no other deferred income taxes in any year.In 2015,Peridot elected to carry back its operating loss.The enacted income tax rate was 40%.In its 2016 income statement,what amount should Peridot report as income tax expense?

In Its First Four Years of Operations Peridot Jewelers Reported