QUESTION 30 The following trial balance of Reese Corp. at December 31, 2025 has been properly adjusted. Reese Corp. Trial Balance December 31, 2025 DR $875,000 2,695,000 2.085,000 8,269,000 Cash Accounts receivable (net) Inventory Property, plant, and eqipment Accounts payable and accrued liabilities Income taxes payable Deferred income tax liability Common stock Additional paid-in capital Retained earnings, 1/1/25 Net sales and other revenues Costs and expenses Income tax expense 11,180,000 476,000 $25,580,000 CR $1,761,000 654,000 85,000 2,350,000 3,680,000 3,490,000 13,560,000 $25,580,000 Other financial data for the year ended December 31, 2025: 1. Included in accounts receivable is $1,200,000 due from a customer and payable in quarterly installments of $150,000. The last payment is due December 29, 2026. 2. During the year, estimated tax payments of $525,000 were charged to income tax expense. The current and future tax rate on all types of income is 30%. In Reese's December 31, 2025 balance sheet, the current assets total is $6,180,000 O $5,655,000 O $5,505,000 5,055,000 1 p
The following trial balance of Reese Corp, at December 31,2025 has been properly adjustod. Other financial data for the year ended December 31, 2025: 1. Included in accounts receivable is $1,200,000 due from a customer and payable in quarterly installments of $150,000. The last payment is due Decembet 29, 2026. 2. During the year, estimated tax payments of $525.000 were charged to income tax expense. The current and future tax rate on all types of income is 30%. In Reese's December 31, 2025 balance shoot, the cutrent atsets total is $6,180,000 $5,655,000 $5,505,000 5.055 .000 
