8. At the end of its first year of operations, Salem Construction, Inc., included in its balance sheet a long-term liability entitled "Deferred Income Taxes." (a) Briefly explain what deferred income taxes represents, including how this liability came into existence and whether such an item is generally perceived as favorable or unfavorable from company management's point of view. (b) If Salem Construction, Inc., is a successful, growing business, would you expect the liability for deferred income taxes to increase or decrease over the next few years? Explain