Quartz Corporation began operations at the start of 2023. During the year, it made cash and credit sales totaling $875,000 and collected $710,000 in cash from its customers. It purchased inventory costing $408,000, paid $25,000 for dividends and the cost of goods sold was $420,000. Quartz has a 25% tax rate. The corporation incurred the following expenses:

Salaries expense	110,000
Utilities expense	12,500
Insurance expense	14,800
Interest expense	11,200
Rent expense	32,500

a. Prepare a multistep income statement for the year ended December 31, 2023.

b. Based on the above information, what is the amount of trade receivables on the statement of financial position prepared at the end of 2023?