Impact of Tax Items Indicate the impact on net income - increase (I), decrease (D), no effect (N) - of the overall journal entry for each of the following transactions. 1. recording only a tax carryback in the year of an operating loss 2. recording a tax carryback and carryforward in the year of an operating loss 3. change in tax rate from 40% to 35% to change a deferred tax asset on its books 4. change in tax rate from 35% to 40% to change a deferred tax liability on its books For the following accounts, tell the type of account, the financial statement where each one appears, and details about its location in that financial statement: Type of Acct. Financial Statement Details about Location 1. Projected Benefit Obligation 2. Income tax benefit due to carryforward 3. Plan Assets 4. Valuation allowance because deferred tax account is not expected to be realized 5. Prior service cost (first recorded last year) 6. Unexpected loss on Plan Assets (this year)