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 Accounts receivable (net) 2698000 Inventory 2085000 Property, plant, and equipment (net) 7570000 Accounts payable and accrued liabilities $ 1770000 Income taxes payable 651000 Deferred income tax liability 83000 Common stock 2344000 Additional paid-in capital 3675000 Retained earnings, 1/1/20 3542000 Net sales and other revenues 12843000 Costs and expenses 11160000 Income tax expenses 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: a) $4621000. b) $3542000. c) $4704000. d) $5225000.