At December $31,2022,$ Crane Corporation had a temporary difference $($related to pensions$)$ and reported a related deferred tax asset of $$31,200$ on its balance sheet. At December $31,2023,$ Crane has five temporary differences. An analysis reveals the following:

Temporary Difference

Pension liability: expensed as incurred on the books; deductible when funded for tax purposes

Royalties collected in advance: recognized when earned for accounting purposes and when received for tax purposes

Accrued liabilities: various expenses accrued for accounting purposes and recognized for tax purposes when paid

Deferred gross profit: profits recognized on instalment sales when sold for book purposes, and as collected for tax purposes

Equipment: straight$-$line depreciation for accounting purposes, and CCA for tax purposes

The enacted tax rate has been $30\%$ for many years. In November $2023,$ the rate was changed to $28\%$ for all periods after January $1,2025.$ Assume that the company has income tax due of $$180,000$ on the $2023$ tax return and that Crane follows IFRS.

$($a$)$

Your answer is partially correct.

Indicate how deferred taxes should be presented on Crane's December $31,2023$ SFP$.$

CRANE CORPORATION

$($Partial$)$ Balance Sheet

December $31,2023$

Non$-$Current Assets

Deferred Tax Asset

$