Year Pretax Income (Loss) Tax Rate 2018 $183,000 17% 2019 69,000 17 2020 (206,800) 23 2021 385,100 23 Assuming that the company uses the carryforward provision, what is the amount of income or loss that will be reported for 2020? (Enter the amount only. DO NOT put a plus or minus sign in front of the amount.)
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A company reports the following pretax income (loss) for both financial reporting purposes and tax purposes.
Year | Pretax Income (Loss) | Tax Rate |
2018 | $183,000 | 17% |
2019 | 69,000 | 17 |
2020 | (206,800) | 23 |
2021 | 385,100 | 23 |
Assuming that the company uses the carryforward provision, what is the amount of income or loss that will be reported for 2020? (Enter the amount only. DO NOT put a plus or minus sign in front of the amount.)
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