At December 31, 2019, Waterway Company had a net deferred tax liability of $381,200. An explanation of the items that compose this balance is as follows. Resulting Balances in Deferred Taxes Temporary Differences 1. Excess of tax depreciation over book depreciation $193,300 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. (53,200) 3. Accrual method used for book purposes and installment method used for tax purposes for an isolated installment sale of an investment. 241,100 $381.200 In analyzing the temporary differences, you find that $31,100 of the depreciation temporary difference will reverse in 2020, and $128,800 of the temporary difference due to the installmen sale will reverse in 2020. The tax rate for all years is 20%. Indicate the manner in which deferred taxes should be presented on Waterway Company's December 31, 2019, balance sheet. Waterway Company Balance Sheet (Partial) Current Assets Deferred Tax Asset 53,200