Tetra Corp, an IFRS Reporter, Has the Deferred Tax Assets

Tetra Corp, an IFRS reporter, has the deferred tax assets and liabilities presented below: $\begin{array}{|c|c|c|}\hline \text { Item } & \begin{array}{l}\text { Classification on the } \\\text { Balance Sheet of } \\\text { Related Account }\end{array} & \begin{array}{c}\text { Deferred Tax } \\\text { Associated with Item }\end{array} \\\hline \begin{array}{l}\text { Excess of warranty expense over } \\\text { warranty deductions }\end{array} & \text { Current } & \$ 69,000 \text { Asset } \\\hline \begin{array}{l}\text { Accelerated depreciation for tax } \\\text { burposes }\end{array} & \text { Noncurrent } & \$ 79,000 \text { Liability } \\\hline \text { Installment sales receivable } & \text { Current } & \$ 39,000 \text { Liability } \\\hline \text { Contingent liability } & \text { Current } & \$ 29,000 \text { Asset } \\\hline\end{array}$

What will the company report for deferred taxes on the balance sheet?

A) current assets: deferred tax asset $59,000; noncurrent liabilities: deferred tax liability $79,000
B) noncurrent assets: deferred tax asset $20,000
C) noncurrent liabilities: deferred tax liability $20,000
D) Companies do not report deferred taxes on the balance sheet under IFRS.