Use the following information for questions.
Wilcox Corporation reported the following results for its first three years of operation:

There were no permanent or temporary differences during these three years.Assume a corporate tax rate of 30% for 2010 and 2011, and 40% for 2012.
-Assuming that Wilcox elects to use the carryback provision, what income (loss) is reported in 2011? (Assume that any deferred tax asset recognized is probable to be realized.)

Question

Use the following information for questions.
Wilcox Corporation reported the following results for its first three years of operation:
  
There were no permanent or temporary differences during these three years.Assume a corporate tax rate of 30% for 2010 and 2011, and 40% for 2012.
-Assuming that Wilcox elects to use the carryback provision, what income (loss) is reported in 2011? (Assume that any deferred tax asset recognized is probable to be realized.)

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The Answer of Use the following information for questions.
Wilcox Corporation reported the following results for its first three years of operation:
  
There were no permanent or temporary differences during these three years.Assume a corporate tax rate of 30% for 2010 and 2011, and 40% for 2012.
-Assuming that Wilcox elects to use the carryback provision, what income (loss) is reported in 2011? (Assume that any deferred tax asset recognized is probable to be realized.)

Use the Following Information for Questions