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Flint Corp. s trial balance at December 3 1 , 2 0 2 3 is properly adjusted except for the income tax expense adjustment. Flint

Flint Corp.s trial balance at December 31,2023 is properly adjusted except for the income tax expense adjustment.
Flint Corp.
Trial Balance
December 31,2023
Dr.
Cr.
Cash
$337200
Accounts receivable (net)
1447500
Inventory
1192600
Property, plant, and equipment (net)
4185700
Accounts payable and accrued liabilities
$993000
Income tax payable
343500
Future tax liability
38000
Common shares
1675300
Contributed surplus
1340300
Retained earnings, Jan. 1,2023
2322400
Net sales and other revenues
6181900
Costs and expenses
5041400
Income tax expenses
690000
$12894400
$12894400
Other financial data for the year ended December 31,2023:
Included in accounts receivable is $361400 due from a customer and payable in quarterly instalments of $45175. The last payment is due December 29,2025.
The balance in the future income tax liability account relates to a temporary difference that arose in a prior year, of which $15700 is classified as a current liability.
During the year, estimated tax payments of $331300 were charged to income tax expense. The current and future tax rate on all types of income is 35 percent.
In Flints December 31,2023 statement of financial position, the current liabilities total is

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