QUESTION 26 1. A company ends Year One with a noncurrent deferred income tax liability of $42,000 and a noncurrent deferred income tax asset of $45,000. The noncurrent asset also has a valuation allowance of $4,000. On its Year One balance sheet, what is shown for deferred income taxes A $12,000 deferred liability-noncurrent and a $11,000 deferred C asset-current C A $1,000 deferred income tax liability C A $42,000 deferred liability and a $41,000 deferred asset A deferred income tax liability-noncurrent of $26,000, a