During its first year of operations, Alcoa Corporation reported a net operating loss of $600,000 for financial reporting and tax purposes. The enacted tax rate is 25%. Which of the following is true? Net income is -$600,000 a. Net income is $450,000 b. Deferred tax liabilities are increased by $600,000 C. d. Income tax expense is debited by $150,000 Deferred tax assets are increased by $600,000 e