Reference no: EM132986760

At December 31, 20X4, Bren Co. had the following deferred income tax items:

• A deferred income tax asset of $15,000 related to a current liability
• A deferred income tax asset of $3,000 related to a noncurrent liability
• A deferred income tax liability of $8,000 related to a current asset

Problem 1: Which of the following should Bren report in the noncurrent section(s) of its December 31, 20X4 balance sheet?

Select one:

a. $12,000 Net Liability

b. $10,000 Net Asset

c. $7,000 Net Liability

d. $7,000 Net Asset

e. $3,000 Net Asset