Alpha Company reported net incomes in 2007 and 2008 before sustaining a significant operating loss in 2009. All of the 2009 loss can be carried back against the income of 2007 and 2008 for purposes of determining the company's 2009 income tax liability. How should the carryback be presented in the company's 2009 financial statements?
a. As an extraordinary item in the income statement
b. As a revenue from operations in the income statement
c. As the correction of an error in the retained earnings statement
d. As a reduction in the operating loss on the income statement for the year 2009