PolisCorp. Trial Balance December 31, 2020 Cr. Dr. $ 337,500 1,447,500 1,192,500 4,183,000 Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Accounts payable and accrued liabilities Income taxes payable Future income tax liability Common shares Contributed surplus Retained earnings, Jan 1, 2020 Net sales and other revenues Costs and expenses Income tax expenses $ 990,500 342,000 37,500 1,675,000 1,340,000 2,325,000 6,180,000 5,040,000 689,500 $12,890,000 $12,890,000 Other financial data for the year ended December 31, 2020: Included in accounts receivable is $360,000 due from a customer and payable in quarterly instalments of $45,000. The last payment is due December 29, 2022. The balance in the future income tax liability account relates to a temporary difference that arose in a prior year, of which $15,000 is classified as a current liability. . During the year, estimated tax payments of $330,000 were charged to income tax expense. The current and future tax rate on all types of income is 35 percent. In Polis' December 31, 2020 statement of financial position, the current liabilities total is O $1,217,500. O $1,347,500. O $1,100,000. O $1,057,000