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In LMC's 2016 annual report to shareholders,it disclosed the following information about its income taxes:
INCOME TAXES
Deferred income taxes reflect the net tax effects of temporary differences between the amounts of assets and liabilities for accounting purposes and the amounts used for income tax purposes.
Significant components of the Company's deferred tax liabilities and assets as of December 31 were as follows:

-Will LMC report $819.9 million as a liability in its balance sheet at December 31,2016? Explain.

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In LMC's 2016 annual report to shareholders,it disclosed the following information about its income taxes:
INCOME TAXES
Deferred income taxes reflect the net tax effects of temporary differences between the amounts of assets and liabilities for accounting purposes and the amounts used for income tax purposes.
Significant components of the Company's deferred tax liabilities and assets as of December 31 were as follows:
 
-Will LMC report $819.9 million as a liability in its balance sheet at December 31,2016? Explain.

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The Answer of Use the following to answer questions 
In LMC's 2016 annual report to shareholders,it disclosed the following information about its income taxes:
INCOME TAXES
Deferred income taxes reflect the net tax effects of temporary differences between the amounts of assets and liabilities for accounting purposes and the amounts used for income tax purposes.
Significant components of the Company's deferred tax liabilities and assets as of December 31 were as follows:
 
-Will LMC report $819.9 million as a liability in its balance sheet at December 31,2016? Explain.

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