Portions of the financial statements for Peach Computer are provided below PEACH COMPUTER Income Statement For the year ended December 31, 2012 Revenues Expenses $1,870,000 Cost of goods sold Operating expenses Depreciation expense Income tax expense $1,000,000 557,000 51,000 34,000 Total expenses 1,642,000 Net income $ 228,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (1) or 2011 Decrease (D) $98,000$90,000 $8,000 (1) 48,400 2,600(D) 74,400 55,600 18,800 (I) 6,200 4,000 (D) 7,100 (I) 9,200 3,700 (D) 2012 Cash Accountsr Inventory Prepaid rent Accounts payable Income tax payable 45,800 2,200 44,100 5,500 37,000