Please answer b).

Current Attempt in Progress Monty Corporation reports under IFRS and at December 31, 2020, the company had a net deferred tax liability of $380,500. An explanation of the items that make up this balance follows: Resulting Balances in Deferred Temporary Differences Tax Account 1. Excess of accumulated tax depreciation over book depreciation $ $231.000 2. (82,500) Accrual, for book purposes, of estimated loss contingency from pending lawsuit that is expected to be settled in 2021. The loss will be deducted on the tax return when it is paid. Accrual method (account receivable) used for book purposes and instalment method used for tax purposes for an isolated instalment sale of an investment, due in 2022. , 3. 3 232,000 $380,500 (a) Your Answer Correct Answer (Used) 1 1 - Your answer is partially correct. Indicate how deferred tax should be presented on Monty Corporation's December 31, 2020 SFP. Monty Corporation (Partial) Balance Sheet December 31, 2020 Current Liabilities Allowance to Reduce Future Tax Asset to Expected Realiz 82000 e Textbook and Media Solution List of Accounts Attempts: 5 of 5 used 5 (b) Indicate how future taxes should be presented on Monty Corporation's December 31, 2020 statement of financial position, if Monty Corporation followed the ASPE future/deferred income taxes method. Monty Corporation (Partial) Balance Sheet For the Year Ended December 31, 2020