Response to the following questions:
1. Describe an operating loss carryforward. List the two conceptual questions concerning accounting for a carryforward.
2. Briefly summarize the GAAP for the financial reporting of operating loss carrybacks and carryforwards.
3. What is intraperiod income tax allocation? How is income tax expense reported on a corporation's income statement and retained earnings statement?
If possible, please give examples to better understand your response.