What amount should aylmer report as a net loss

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Question: Aylmer Inc. reported a taxable and accounting loss of $130,000 for Y5.

Its pre-tax accounting income for the last two years was as follows:

Y3 $60,000

Y4 80,000

The tax rate for all years is 25%.

What amount should Aylmer report as a net loss for financial reporting purposes in Y5, assuming that it uses the carryback provisions?

Reference no: EM133378582

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