Due to years of poor management, Shao Inc. had $350 million in Deferred Tax Assets due to NOL carryforwards in its various subsidiaries around the world. At the end of 2012, Shao had a Valuation Allowance of $280 million related to these DTAs. In January 2013, Shao hired Dakota Jordan to take over the Liechtenstein subsidiary, which quickly returned to profitability. At the end of 2013, Shao decided that it was more likely than not that the Liechtenstein subsidiary would be profitable enough to use the NOLs in Liechtenstein by 2014 and made the appropriate adjustment to the Valuation Allowance.

Which of the following items would be increased by the adjustment to the Valuation Allowance? (check all that apply)

Total Shareholders Equity

Accumulated Other Comprehensive Income

Income Tax Expense

Cash from Operating Activities

Net Income