1. This year, a company has each of the following income statement items:
   1. Gross profits on installment sales.
   2. Revenues on long-term construction contracts.
   3. Estimated costs of product warranty contracts.
   4. Premiums on officers life insurance policies with the company as beneficiary.

Indicate where deferred income taxes are reported in the financial statements. Specify when deferred income taxes would need to be recognized for each of the items above, and indicate the rationale for such recognition.