Case 3: Statement of Financial position The following trial balance of Shaw C adjusted except of income tax expense: ance of Shaw Company at December 31, 2017 has been 675,000 2,695,000/ 2,185,000 10,245,000 Cash Accounts receivable (net) Inventory Property, plant and equipment (net) Accounts payable and accrued liabilities Income tax payable Deferred tax payable - Common stock Additional paid-in capital Retained earnings, 1/1 Net sales and other revenue Cost and expenses Income tax expense 1,800,000 1.750,000 - 750,000 - 2,500,000 3.000.000 3,350,000 15,000,000 10,000,000 2.350,000 28,150,000 $ 28,150,000 Included in the accounts receivable is $1,000,000 due from a customer and payable in quarterly installments of $125.000. The last payment is due December 30, 2019. The balance in the deferred tax liability accounts pertains to a temporary difference that arose in a prior year, of which $150,000 is expected to reverse in 2018. During the year, estimated tax payment of $600,000 was charged to income tax expense. The x rate is 35% on all types of income. Required: (show computation is good form (30 minutes) In Shaw Company's December 31, 2017 balance sheet how much is: 1. The total current asset? a b. $ $ 6,030,000 5,555,000 c. $ d. $ 5,530,000 5,055,000 2. The total current liabilities? a b. $ $ 2,950,000 3,550,000 c. $ d. $ 4,300,000 7,300,000 The final retained earnings balance? a b. $ $ 8,350,000 3,350,000 C. $ d. $ 6,600,000 6,150,000