You are preparing the consolidated financial statement for the X Company and its 80% owned subsidiary Y Ltd, for the year ended July 31^st.2019.Which of the following transactions would give rise to a deferred income tax asset being recorded on the consolidated balance sheet?

1. X sells inventory to Y at a markup of 30%, and Y resells all of this inventory prior to the year-end.
2. X sells inventory to Y at a markup of 30%,and Y resells 60% of the inventory prior to the year end.
3. Y sells inventory that it had acquired from X in the previous year to an unrelated party at a markup of 30%
4. Y sells inventory that it had acquired from X in the previous year to an unrelated party at $1,000.