The following trial balance of Cullumber Company at December 31, 2020 has been properly adjusted except for the income tax expense adjustment Cullumber Company Trial Balance December 31, 2020 Dr. Cr. Cash $ 874000 2698000 2085000 7570000 $ 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 1770000 651000 83000 2344000 3675000 3542000 12843000 11160000 521000 $24908000 $24908000 Included in accounts receivable is $1180000 due from a customer and payable in quarterly installments of $147500. The last payment is due December 29,2022 In Cullumber's December 31, 2020 balance sheet The final retained earnings balance is