Net Operating Loss, Carryback. Phlash Photo Labs, Ltd. provided you with the following information for the three years ended December 31. Income (Loss)
Year Before Tax Tax Rate
1 $120,000 34%
2 70,000 25%
3 (280,000) 40%
Required:
a. Assuming no book-tax differences and no uncertainty regarding the realization of the tax benefits of the net operating loss carryforward, prepare the journal entry to record the tax expense for each of the three years presented above. The company always elects the carryback/carryforward option. Future tax rates are expected to remain unchanged.
b. Prepare a partial income statement for year 3.

Rate of return, standard deviation, coefficient of variation personal finance problem mike is searching for a stock to include in his current stock portfolio. he is interested in hi-tech inc.; he has been impressed with the company's computer products and believes hi-tech is an innovative market player. however, mike realizes that any time you consider a technology stock, risk is a major concern. the rule he follows is to include only securities with a coefficient of variation of returns below 1.07. mike has obtained the following price information for the period 2015 through 2018:hi-tech stock, being growth-oriented, did not pay any dividends during these 4 years. a. calculate the rate of return for each year, 2015 through 2018, for hi-tech stock. b. assume that each year's return is equally probable and calculate the average return over this time period. c. calculate the standard deviation of returns over the past 4 years. (hint: treat this data as a sample.) d. based on b and c determine the coefficient of variation of returns for the security. e. given the calculation in d what should be mike's decision regarding the inclusion of hi-tech stock in his portfolio?