Presented below are two Independent situations related to future taxable and deductible amounts resulting from temporary differences existing at December 31, 2020. 1. Nash Co. has developed the following schedule of future taxable and deductible amounts. 2021 2022 2023 $200 $200 $200 2024 $200 (1,900) 2025 $200 Taxable amounts Deductible amount 2. Crane Co. has the following schedule of future taxable and deductible amounts. 2021 2022 2023 $200 $200 $200 - (2.200 ) 2024 $200 Taxable amounts Deductible amount Both Nash Co. and Crane Co. have taxable income of $3,700 in 2020 and expect to have taxable income in all future years. The tax rates enacted as of the beginning of 2020 are 30% for 2020-2023 and 35% for years thereafter. All of the underlying temporary differences relate to noncurrent assets and liabilities 1. Compute the net amount of deferred income taxes to be reported at the end of 2020, and indicate how it should be classified on the balance sheet for situation one. Deferred income taxes to be reported at the end of 2020 in Nash Co. $ NASH CO. Balance Sheet (Partial) December 31, 2020 Current Assets Deferred Tax Asses 2. Compute the net amount of deferred Income taxes to be reported at the end of 2020, and indicate how it should be classified on the balance sheet for situation two. Deferred Income taxes to be reported at the end of 2020 in Craneco $ CRANE CO. Balance Sheet December 31, 2020 Current Assets Deferred Tax Asset