At December 31, 2019, Culver Company had a net deferred tax liability of $346,700. An explanation of the items that compose this balance is as follows.

Temporary Differences				Resulting Balances in Deferred Taxes
1.		Excess of tax depreciation over book depreciation		$185,300
2.		Accrual, for book purposes, of estimated loss contingency from pending lawsuit that is expected to be settled in 2020. The loss will be deducted on the tax return when paid.		(50,000	)
3.		Accrual method used for book purposes and installment method used for tax purposes for an isolated installment sale of an investment.		211,400
				$346,700

In analyzing the temporary differences, you find that $30,600 of the depreciation temporary difference will reverse in 2020, and $119,000 of the temporary difference due to the installment sale will reverse in 2020. The tax rate for all years is 20%. Indicate the manner in which deferred taxes should be presented on Culver Companys December 31, 2019, balance sheet.

Culver Company Balance Sheet (Partial) choose the accounting period December 31, 2019For the Year Ended December 31, 2019For the Quarter Ended December 31, 2019
select an opening section name Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsNoncurrent LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item