15 At June 30, 2020 is the sum of P&G's timing differences that will result in future taxable amounts (deferred tax liability) greater than or less than the sum of all timing differences that will result in future deductible amounts (deferred tax asset)? In answering this question look at the balance sheet amounts and take into consideration what you know about required netting witb. regard to deferred tax amounts. Do not worry about the fact that the amounts in the footnotes do not tie to the amount on the face of the balance sheet. You can answer this question based on the balance sheet amounts alone. 2020 2019 $ 16,1815 4,239 6,048 4,951 4,178 Consolidated Balance Sheets Amounts in millions except stated values, As of June 30 Assets CURRENT ASSETS Cash and cash equivalents Ayailable-for-sale investment securities Accounts receivable INVENTORIES Materials and supplies Work in process Finished goods Total inventories Prepaid expenses and other current assets TOTAL CURRENT ASSETS PROPERTY, PLANT AND EQUIPMENT, NET GOODWILL TRADEMARKS AND OTHER INTANGIBLE ASSETS, NET OTHER NONCURRENT ASSETS TOTAL ASSETS 1,414 1.289 674 612 3,410 3,116 5,498 5,017 2,130 2.218 27,987 22.473 20,692 21.271 39,901 40.273 23,792 24 215 8,328 6,863 $ 120,700 $ 115,095 $ 12,071 $ 9,722 11.183 32,976 23.57 6,199 11,110 73,822 11,260 9,054 9.697 30.011 20,395 6,899 10,211 67,516 Liabilities and Shareholders' Equity CURRENT LIABILITIES Accounts payable Accrued and other liabilities Debt due within one year TOTAL CURRENT LIABILITIES LONG-TERM DEBT DEFERRED INCOME TAXES OTHER NONCURRENT LIABILITIES TOTAL LIABILITTES SHAREHOLDERS' EQUITY Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) -Voting Class B preferred stock, stated value S1 per share (200 shares wuthorized) Common stock, stated value $1 per share (10,000 shares wuthorized; shares issued: 2020 - 4,009 2, 2019 - 4,009.2) Additional paid in capital Reserve for ESOP debt retirement Accumulated other comprehensive income/loss) Treasury stock, at cost (shares held: 2020 - 1,529.5, 2019 - 1,504.5) Retained earnings No controlling interest TOTAL SHAREHOLDERS' EQUITY TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 897 928 4,009 4,009 61,194 63,827 (1,080) (1,146) (16,165) (14,930) (105,573) (100,400 100,239 94,918 357 385 46,878 47,579 $ 120,700 $ 115.095