Nishi Corporation prepares financial statements for each month-end. As part of its accounting process, estimated income taxes are accrued each month for 28% of the current months net income. The income taxes are paid in the first month of each quarter for the amount accrued for the prior quarter. The following information is available for the fourth quarter of the year just ended. When tax computations are completed on January 20 of the following year, Nishi determines that the quarters Income Taxes Payable account balance should be $31,940 on December 31 of the year just ended (its unadjusted balance is $29,540).October net income$ 38,000November net income24,700December net income42,800