At december 31, year 3 , bren co. had the following deferred income tax items: • a deferred income tax liability of $15,000 related to a noncurrent asset. • a deferred income tax asset of $3,000 related to a noncurrent liability. • a deferred income tax asset of $8,000 related to a current liability. which of the following should bren report in the noncurrent section of its december 31, year 3 balance sheet? (a) a noncurrent asset of $3,000 and a noncurrent liability of $15,000.(b) a noncurrent liability of $4,000.(c) a noncurrent liability of $12,000.(d) a noncurrent asset of $11,000 and a noncurrent liability of $15,000.

Fanning company is considering the addition of a new product to its cosmetics line. the company has three distinctly different options: a skin cream, a bath oil, or a hair coloring gel. relevant information and budgeted annual income statements for each of the products follow. skin cream bath oil color gel budgeted sales in units (a) 110,000 190,000 70,000 expected sales price (b) $8 $4 $11 variable costs per unit (c) $2 $2 $7 income statements sales revenue (a × b) $880,000 $760,000 $770,000 variable costs (a × c) (220,000) (380,000) (490,000) contribution margin 660,000 380,000 280,000 fixed costs (432,000) (240,000) (76,000) net income $228,000 $140,000 $204,000 required: (a) determine the margin of safety as a percentage for each product. (b) prepare revised income statements for each product, assuming a 20 percent increase in the budgeted sales volume. (c) for each product, determine the percentage change in net income that results from the 20 percent increase in sales. (d) assuming that management is pessimistic and risk averse, which product should the company add to its cosmetics line? (e) assuming that management is optimistic and risk aggressive, which product should the company add to its cosmetics line?