During 2018, its first year of operations, baginski steel corporation reported a net operating loss of $465,000 for financial reporting and tax purposes. the enacted tax rate is 40%. required: 1. prepare the journal entry to recognize the income tax benefit of the net operating loss. assume the weight of available evidence suggests future taxable income sufficient to benefit from future deductible amounts from the net operating loss carryforward. 2. show the lower portion of the 2018 income statement that reports the income tax benefit of the net operating loss.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

answer; /// blank(1); above; blank(2); less;

answer; decentralized;

answer; ///blank(1) 75%; blank(2) 40%;