During its first year of operations, Alcoa Corporation reported a net operating loss of $800,000 for financial reporting and tax purposes. The enacted tax rate is 25%. Which of the following is true?

a. Deferred tax assets are increased by $800,000 b. Deferred tax liabilities are increased by $800,000 c. Net income is -$600,000 d. Income tax expense is debited by $200,000 e. Net income is -$800,000