Karen, a CPA, has just completed the tax return for a new client, Peter. Peter a sole proprietor, was referred to Karen by Robert (Peter's brother), who is a substantial and long-term client of Karen's. Peter told Karen that when the tax return was completed it would be used by a bank to document his income in order to qualify for a large business loan. Peter provided adequate documentation and Karen had no difficulties in preparing the tax return.Upon delivery of the tax return and original documents, Peter commented that he was satisfied with Karen's work, particularly since the return indicated sufficient income to qualify for the business loan. However, Peter complained that the total tax due was much more than he could afford. Peter then indicated he was going to prepare his own return for filing with the IRS in order to show a much smaller tax liability. Karen firmly and clearly explained that if Peter reduced the income or increased the expenses in any material way he would befiling a fraudulent tax return. Further, Karen informed Peter she knew the bank required that the tax return used for income documentation had to be the same as the one filed with the IRS. In addition, Karen stated that to file a tax return that was materially different from the return submitted to the bank, would be committing fraud against the bank. Peter informed Karen that he simply could not afford to pay the taxes and would "take his chances."Karen is especially concerned because she is alsothe independent auditor of the small local bank where Peter's loan will be considered. This loan would be considered large for the bank. Karen is aware that the current loan loss provisions for the bank are barely adequate. A loan loss of the magnitude would have serious repercussions to the bank. I need help with this case by using theses steps state the facts, identify the ethical issues, and solution to the case. also, the solution must address these authorities AICPA professional code of conduct, AICPA statement on standards for Tax Services, IRC section 6694, 6701, 7206, 7216 also, revenue Rulling 84-3, 1984-1 C.B 264 Treasury circular 230