A company has two temporary differences resulting in deferred tax consequences. One difference results in a deferred tax asset; the other difference results in a deferred tax liability. The deferred tax asset is greater than the deferred tax liability. How should the company report the deferred tax consequences of the temporary differences on the balance sheet? Report the deferred tax asset in the noncurrent assets portion of the balance sheet and report the deferred tax liability in the noncurrent liabilities portion of the balance sheet. Report a net noncurrent deferred tax asset in the noncurrent assets section of the balance sheet. Report a net current deferred tax asset in the noncurrent assets section of the balance sheet. Report a net noncurrent deferred tax liability in the noncurrent liability section of the balance sheet