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WCC Corporation has a $225,000 net operating loss carryover to 2023 from a...

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Accounting

WCC Corporation has a $225,000 net operating loss carryover to 2023 from a previous year. Assume that it reported $100,000 of taxable income in 2023(before the net operating loss deduction) and $155,000 of taxable income in 2024(before the net operating loss deduction).
Note: Leave no answer blank. Enter zero if applicable.
b. What is WCC's taxable income in 2023 and 2024(after the net operating loss deduction), assuming the $225,000 NOL carryover originated in 2020 and WCC elected to forgo the NOL carry back option?

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