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What is the income tax refund receivable

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Reference no: EM131790725

The Kelso Company had the following operating results:

Year Income (loss) Tax rate Income tax

2014 30,000 35% 10,500 first year of operations

2015 45,000 30% 13,500

2016 (60,000) 30% 0

What is the income tax refund receivable?

I would like to know the steps in how to get the answer. what happen when the NOL is less than than the prior years

Reference no: EM131790725

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