Arch Associates reports the following comparative balance sheets and income statement information Arch Associates Comparative Balance Sheets 12/31/Year 1 Cash $12,600 Accounts receivable 4,600 Prepaid insurance 10,600 Inventory 6,600 Property, plant and equipment 12,600 Total assets $47,000 Accounts payable $ 8,600 Salaries payable 10,600 Long term notes payable 9,200 Stockholders! equity 18,600 Total liabilities and equity $47,000 12/31/Year 2 $22,600 8,600 8,600 2,600 10,600 $53,000 $12,600 4,600 7,200 28,600 $53,000 Income Statement Year Ended 12/31/Year 2 Revenue $82,000 Cost of goods sold 43,000 Gross margin 39,000 Operating expense 23,000 Net income $16,000 The amount of cash collected from customers during Year 2 was: Multiple Choice $86,000 $74,000 $82.000 $78,000