9. Choose the option to correctly complete the sentence. Uncle Joe's Pizza reported net income of $60,000 for 2019. However, the company's income tax return excluded a revenue item of $4,000 (reported on the income statement) because under the tax laws the $4,000 would not be reported for tax purposes until 2020. Assuming a 20\% income tax rate, this situation would cause a 2019 deferred tax amount of S4000 liability $4000 asset $800 liability $800 asset The next question deals with the December 31,2019 Balance Sheet of Horan Industries. Horan's December 31,2018 notes payable was $30,000. They paid off $10,000 of notes during 2019 . How much additional notes payable did they issue during the year? $15,000$25,000$35,000$45,000 1. Hampton Industries began December with $17.5 million in accounts receivables. During the month it collected \$3.5 million from customers who had previously purchased on credit and it sold \$5 million in merchandise on credit. What is Hampton's accounts receivables balance at the end of the month? S9 million \$16 million S19 million $26 million 2. The December 31, 2019 Income Statement of Jackson Industries is shown below. Jackson began 2019 with an inventory T-account debit balance of $300 million. Inventory purchases during the year amounted to $150 million. There were no inventory-related write-downs or losses. What is its December 31 , 2019 inventory account balance? S245 million \$355 million $450 million \$545 million