4. All of the following statements regarding current and deferred income taxes are correct, except

a.	the amount of income tax expense must be allocated to various components of comprehensive income
b.	the income tax obligation is determined by applying the historical tax rates to the taxable income for the year
c.	the valuation allowance account is subtracted from the deferred tax asset account on the balance sheet
d.	rent received in advance that will be earned within the next 12 months results in the creation of a current deferred tax asset