Isaac Inc. began operations in January 2018. For certain of its property sales, Isaac recognizes income in the period of sale for financial reporting purposes. However, for income tax purposes, Isaac recognizes income when it collects cash from the buyer's installment payments. In 2018, Isaac had $698 million in sales of this type. Scheduled collections for these sales are as follows: 2018 2019 2020 2021 2022 $ 87 million 141 million 142 million 177 million 151 million $698 million Assume that Isaac has a 28% income tax rate and that there were no other differences in income for financial statement and tax purposes. Ignoring operating expenses, what deferred tax liability would Isaac report in its year-end 2018 balance sheet? (Round your answer to the nearest whole million.) Puritan Corp. reported the following pretax accounting income and taxable income for its first three years of operations: 2017 2018 $ 350,000 (600,000) 700,000 2019 Puritan's tax rate is 40% for all years. Puritan elected a loss carryback. As of December 31, 2018. Puritan was certain that it would recover the full tax benefit of the NOL that remained after the operating loss carryback. What would be the net loss in 2018 reported in Puritan's income statement