PRINTEF CALCULATOR STANDARD VIEW Testbank Multiple Choice Question 99 The following trial balance of Crane Company at December 31, 2020 has been properly adjusted except for the income tax expense adjustment Crane Company Trial Balance December 31, 2020 873500 2692000 2084000 7561000 $ Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Accounts payable and accrued liabilities Income taxes payable Deferred income tax liability Common stock Additional paid in capital Retained earnings, 1/1/20 Net sales and other revenues Costs and expenses Income tax expenses 1759000 650000 85000 2353000 3675000 3566000 12804500 11160000 522000 $24892500 $24892500 Included in accounts receivable is $1200000 due from a customer and payable in quarterly installments of $150000. The last payment is due December 29, 2022 In Crane's December 31, 2020 balance sheet, The current liabilities total is $2494000 $1908500 $1972000. $2409000 JS Kleso, Intermediate Accounting, 176 CALCULATOR STANDARD VIEW PRINTER VERSION