51. The following trial balance of Reese Corp. at December 31, 2012 has been properly adjusted except for the income tax expense adjustment. Reese Corp
December 31, 2012 Dr. Cr. Cash $975,000 Accounts receivable (net) 2,695,000 Inventory 2,085,000 Property, plant, and equipment (net) 7,366,000 Accounts payable and accrued liabilities $1,801,000 Income taxes payable 645,000 Deferred income tax liability 85,000 Common stock 2,350,000 Additional paid-in capital 3,680,000 Retained earnings, 1/1/12 3,450,000 Net sales and other revenues 13,460,000 Costs and expenses 11,180,000 Income tax expenses 1,179,000 $25,480,000 $25,480,000 Other financial data for the year ended December 31, 2012: (1) Included in accounts receivable is $1,200,000 due from a customer and payable in quarterly installments of $150,000. The last payment is due December 29, 2014. (2) The balance in the Deferred Income Tax Liability account pertains to a temporary difference that arose in a prior year, of which $20,000 is classified as a current liability. (3) During the year, estimated tax payments of $525,000 were charged to income tax expense. The current and future tax rate on all types of income is 30%. In Reese's December 31, 2012 balance sheet, the current assets total is A) $5,605,000. B) $5,155,000. C) $6,280,000. D) $5,755,000.