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Question 7 Sheffield Corporation has temporary differences at December 31, 2020, that result in the following deferred taxes. Deferred tax liability related to depreciation difference

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Question 7 Sheffield Corporation has temporary differences at December 31, 2020, that result in the following deferred taxes. Deferred tax liability related to depreciation difference Deferred tax asset related to warranty liability Deferred tax liability related to revenue recognition Deferred tax asset related to litigation accruals $39,100 58,700 105,000 25,600 Indicate how these balances would be presented in Sheffield's December 31, 2020, balance sheet. Sheffield Corporation Balance Sheet (Partial)

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