Below is a trial balance (adjusted) prepared by Comfy Homes accountant in the process of creating the financial statements for June 30, 2015 (six months). Based on the amounts shown, which of the following statements are true (choose all that apply)?

1. Utility expense for the six-month period is $3,000

2. Net income for the six-month period is $22,000

3. Income taxes due, but not yet paid to the IRS (US Internal Revenues Service) are $8,000

4. Building and equipment, net of accumulated depreciation, is $224,000

5. The balance of Comfy Homes loan from the bank is $55,000

ACCOUNTS DEBIT CREDIT Cash $44,000 Accounts Receivable $58,000 Inventory $41,000 Building & equipment $230,000 Accumulated depreciation $6,000 Bank loan $55,000 Accounts payable $9,000 Utility expenses payable $3,000 Income taxes payable $6,000 Paid-in-capital $250,000 Retained earnings $22,000 Revenues $205,000 Cost of goods sold $130,000 Wages $38,000 Utilities expense $6,000 Depreciation expense $1,000 Income tax expense $8,000 Total $556,000 $556,000