2. A company has determined its deferred taxes to be as follows, classified individually:

Current Deferred Tax Asset $50,000

Noncurrent Deferred Tax Asset $80,000

Current Deferred Tax Liability $60,000

Noncurrent Deferred Tax Liability $70,000

1) What deferred taxes will it report in its balance sheet under current GAAP?

2) What deferred taxes would it report in its balance sheet under ASU 2015-17?

3. Which of the following statements is (are) true about uncertain tax positions?

1) They give rise to tax benefits that reduce income taxes payable.

2) They stem from tax deductions a company has taken that may be disallowed.

3) They are subject to the MLTN constraint for financial statement recognition purposes