The Graves Corporation was incorporated in Year 1 and incurred a net operating loss of $35,000. The company’s operating income in Year 2 was $47,000. Because of a downturn in the local economy, the company suffers a net operating loss of $21,000 in Year 3. What is the treatment of the Year 3 loss?

Stormie zanzibar owns a bakery in the fictitious country of olombia. each month the government’s market ministry mails her a large list of the regulated price of goods which include products like bread, muffins and flat bread. the list also dictates the types of goods she can sell at the bakery and what she is to charge. because of the regulations placed on these goods, stormie has increased her production of sweets, pies, cakes, croissants and buns and decreased her supply of breads, muffins and flat bread. she has taken these steps because the sweet goods’ prices are not government controlled. stormie zanzibar lives under what type of economy?