The following trial balance of reese corp. at december 31, 2017 has been properly adjusted except for the income tax expense adjustment. reese corp. trial balancedecember 31, 2017dr. cr. cash $ 875,000 accounts receivable (net) 2,695,000 inventory 2,085,000 property, plant, and equipment (net) 7,566,000 accounts payable and accrued liabilities $ 1,761,000income taxes payable 654,000deferred income tax liability 85,000common stock 2,350,000additional paid-in capital 3,680,000retained earnings, 1/1/17 3,490,000net sales and other revenues 13,560,000costs and expenses 11,180,000 income tax expenses 1,179,000 $25,480,000 $25,480,000other financial data for the year ended december 31, 2017: • 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, 2019.• 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.• 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, 2017 balance sheet, the current assets total is: current liabilities total is: final retained earnings balance is: